Monday Morning Insights

Bitcoin oscillated around the 102000 line after fluctuating near the 103300 line, and last night it fell to around the 98600 line after dropping to around 102700. The trading volume continues to increase. Ethereum fell during the day from around the 2310 line to around the 2155 line. The strong involvement of the U.S. in the Middle East situation has increased global financial market fear, and the trading volume continues to rise. The trading volume is strong, with rebounds as the main focus and short positions as a supplement. Bitcoin experienced another waterfall decline over the weekend, briefly dropping below the 100000 mark down to the 98600 line. After a four-hour closing, there was a slight rebound, but the strength was weak, and it is currently oscillating around 99300, still in an overall downtrend.

Above Bitcoin, pay attention to resistance around 100500, 101800, and 102700. Below, watch for support around 97200, 95800, and 94300.

Above Ethereum, pay attention to resistance around 2260 and 2310. Below, watch for support around 2150, 2100, and 2050.

In the short term, we are currently in a phase of oscillation and repair. The rebound momentum has somewhat increased, but it is not strong enough to change the overall downtrend. Combining the candlestick pattern of the doji and the flat-bottom, as well as the oscillation characteristics presented by the indicators, it may oscillate and consolidate in the range of 99000 to 101500 for a while. In the short term, watch for a breakthrough of the main resistance at the 102000 line. If it breaks through, it may directly form a V-shaped reversal! Risk control needs attention!

For Bitcoin, short around 1001800-101000, targeting down to 98000-97000-96000.

For Ethereum, short around 2300-2340, targeting down to 2180-2130.