Over the weekend, the overall market for BTC did not experience strong fluctuations. The most BTC fluctuated within the range of 117,000-118,500, which is significantly different from the operating range at the beginning of the week. The overall market has confirmed that the selling pressure above is basically established, and the current consolidation is still in the process of testing the bottom support. In terms of Ethereum, it appears stronger compared to BTC. After the weekend's consolidation, it welcomed a slight recovery, with the peak rising to the resistance level of 4,574. Over the weekend, there was also an increase of 200 points in space. In terms of overall fluctuations, there has been some recovery. Currently, the structure of ETH is still performing better than BTC. The exchange rate is expected to recover further, and in the short term, BTC and ETH may show a certain degree of divergence.

From the current BTC market data, after a stepwise upward attempt at a new high on the daily chart, it was pressured back down to around 124500, and has retraced to oscillate near the previous market data range. Last week, it retraced to test the 20-day moving average and has currently stopped falling. Overall, the trend is somewhat hindered in the short term, but the current structure lacks strength for recovery. It remains uncertain whether the mid-track can hold. Recently, the continuous bearish candles wrapping around the doji star formation indicate that the overall market is still leaning towards a weak structure. If the daily line closes below 116800, there is still room for a deeper correction at a higher level. Looking at the four-hour chart, the Bollinger Bands are further descending, with the overall operating range narrowing downward. The periodic retracement attempting to test the previous descending trend line has encountered resistance, but currently, the shape indicates that the lower track of the Bollinger Bands resonates with the short-term support. The bullish volume is relatively weak, and in our operations, we can maintain a strategy of taking advantage of rebounds to short.

BTC can short at 118000-118500, with a focus on the two key supports at 117300-116800 for the short term. If broken, continue to watch the 115000 level. Ethereum can short at 4520-4550, looking near 4370. #BTC# #ETH#