Monday Afternoon Cryptocurrency Market

On Monday afternoon, Bitcoin and Ethereum showed weak upward momentum and failed to break higher. The path of investment is full of trials, and success is not accidental.

Both assets retreated after reaching their peaks, failing to break previous resistance, indicating that the bullish momentum is gradually weakening. The hourly chart shows a decline in highs, moving between the middle and lower bands of the Bollinger Bands.

Bitcoin is focused on the resistance levels of 95200 and 97500; Ethereum is looking at 3440 and 3520.

In terms of operation, following the morning strategy, Bitcoin can be shorted around 94800, aiming for 92000, with a breakdown target of 90000, and 95200 as a safety level;

For Ethereum, shorting around 3440 with a target of 3330 - 3260, with a breakdown target of 3200, and 3480 as a safety level, watch for a shift to long if it breaks.

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