Bitcoin and Ethereum have been in continuous fluctuations for more than a week, especially with a narrower range of fluctuations since the weekend, showing weak continuation for both long and short positions. The price movement of Bitcoin is overall within a range-bound pattern. The price is between key support and resistance, with 108,000 USD as the key support level and 114,000 USD as the important resistance level. In terms of technical indicators, the short-term moving averages have slightly risen, but the long-term moving averages are still in a downward trend. The Bollinger Bands are gradually narrowing, and the price is hovering near the middle band. A bullish engulfing pattern has appeared on the daily chart, but the trading volume has not effectively increased, indicating insufficient upward momentum. On the 2-hour chart, candlesticks have continuously closed positively, and the MACD momentum has strengthened somewhat, giving a slight advantage to the short-term bulls, but the larger scale is still in a bearish atmosphere.

Ethereum has been oscillating around the 4300 line, in a low-level consolidation phase. The overall technical structure on the technical indicators is bearish, but the downward momentum has slowed down. The daily chart shows a bullish engulfing pattern, indicating a desire for a rebound. The moving average system is still in a bearish arrangement, with prices continuously under pressure below both short-term and long-term moving averages. The 2-hour chart shows a converging triangle consolidation pattern, with long and short positions temporarily balanced. The daily MACD bearish momentum is weakening, and the 2-hour MACD shows a tug-of-war between long and short positions.

The short-term bearish trend remains unchanged. It is possible to continue to patiently hold the high position, but attention needs to be paid to the short-term support levels at 4230 and 109500. Multiple unsuccessful attempts to test these levels may lead to a bottoming rebound, and the overall space will also be relatively large afterwards. Pay attention to the conversion between long and short positions.
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