$BTC This week time flies, and the cryptocurrency market has docked with time. Looking back on this week, although the past storms have gradually dissipated, the market's rapid changes are still vivid.

This week's market review

- Bitcoin: After peaking around 119800 at the beginning of the week, it pulled back, falling to around 117900 before halting the decline; in the middle of the week, it again made a strong downward move, touching a low of 111887 over the weekend, and then warming up to around 113649, entering a small range of fluctuations.

- Ethereum: The trend is more turbulent, starting the week from a high of 3940, it dipped to a low around 3675 and continued to break down, ultimately falling to a low of 3355 over the weekend.

Technical analysis and operational thoughts

Currently, Bitcoin is in a phase of oscillation and repair, with notable short-term weak consolidation characteristics. Although it may be possible to try "short high and long low" during the day, market sentiment indicates that after a pullback, panic may rise, and the rebound momentum is insufficient, suggesting that the downtrend may continue. Under the prevailing bearish atmosphere, rebound points can be viewed as short-selling opportunities.

- 4-hour chart: After three consecutive bearish candles, there was a rebound with two consecutive bullish candles, but the bullish candle bodies are small and all have long upper shadows, indicating heavy selling pressure above and weak bullish momentum, with prices maintaining low-level fluctuations, and the market is still in the process of finding a bottom.

- 1-hour chart: After four consecutive bullish candles, it fell again, with the Bollinger Bands continuing to open downward. Although there were sporadic bullish rebounds during the day, the overall downtrend remains unchanged.

Ethereum is highly correlated with Bitcoin's movements and is also under pressure from a weak pattern. Evening operations need to follow the trend, with the core idea focusing on short positions.

Specific strategy for Sunday evening

- Bitcoin: It is recommended to set short positions in the range of 114000-114500, targeting 112500.

- Ethereum: It is recommended to set short positions in the range of 3500-3520, targeting 3450. #加密项目