From yesterday to early today, the market has once again completed its movements. The lowest point for Bitcoin dropped to 97276, followed by a small upward spike. From early morning until dawn, it again experienced a slight upward spike, reaching a high of around 98836, yet it still hasn't broken out of the range. In the short term, we are seeing a choppy and back-and-forth market. How has everyone fared from yesterday to today? Did you achieve your desired results by following my analysis?

$BTC Bitcoin's daily chart continues to show a doji candlestick pattern. At the beginning of this week, it still hasn't broken out of the range, having undergone three consecutive days of contraction. The candlestick body is relatively small, maintaining a contraction oscillation between 97000-99000, with minimal compression of the range, resembling a tug-of-war market. This week, we are still looking at a downward pressure trend below the 990000-1000000 area, and the oscillation rhythm and range basically meet expectations.

On the 4-hour chart, there have been multiple attempts to test the upper limit of the range near 99000. This week might continue to test upwards and possibly break through to reach the significant 100000 level. However, considering the recent price movements and the larger market trend, the basic judgment remains to short at the upper limit and look for a move to the lower limit.

The bearish trend remains unchanged; short-term operations are still primarily based on oscillating markets. The Bollinger Bands' contraction state is the best operational range, looking to short at the upper band and target the lower band. Currently, Bollinger Bands show slight signs of opening up. From a structural perspective, after touching the lower band yesterday, there was an immediate rebound, making the sustainability of the recent price drop a concern; we will likely see a slight rebound first.

Based on the above, morning operations can focus on shorting during rebounds, in a tug-of-war oscillating market. Both long and short positions still offer good opportunities, and the entry points are particularly important, which will be arranged based on the shape of the market in due course. Keep an eye on the changes in strength and weakness rhythm; whether it continues to be a range-bound tug-of-war or effectively breaks out will determine the sustainability of the strength and weakness.

In the morning, Bitcoin can be shorted in the range of 98800-99300, targeting around 96500; Ethereum can be shorted in the range of 3650-3680, targeting around 3530. #加密市场反弹