Monday Thoughts

The weekend's two-day unchanged range oscillation shows a downward trend near the 106200 line. Although there has been some rebound, the strength is limited, indicating that bullish momentum is relatively weak.

In the short term, it may continue to oscillate within the range, constrained by upper resistance at 106500-106100, while the support near 104000 at the bottom is crucial. Once it falls below this level, it may further test the previous low. However, if the upper 106200 line is breached, then we might look upwards to see if the 107500 position can hold before considering entering a short position!

After the previous decline, we have entered a consolidation phase. From a short-term candlestick analysis perspective, there is an expectation of a rebound, but with pressure above and support below. The indicators show that bears are dominant, with a weak direction that may continue the oscillation or lead to a downward adjustment.

From the candlestick perspective, a doji appears to indicate a potential trend reversal, while the black three soldiers pattern reinforces the short-term downtrend. The KDJ three lines are all positioned low and trending downwards, indicating weakness and strong selling pressure. There may be a short-term rebound, but the strength is limited.

For Bitcoin, the rebound near the 16500-107500 line indicates to look short towards 104100, followed by attention to 103500-102600 and 101800 below!

For Ethereum, the rebound near 2580-2650 indicates to look short towards 2500-2450.