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Currently, from a daily chart perspective, Bitcoin and Ethereum are alternating between bullish and bearish candles, and they've failed to break new lows for three consecutive days. This suggests that the previous analysis about the market being oversold and entering a range-bound consolidation is increasingly likely.
The current range can be roughly estimated as follows:
- Bitcoin: 100,000 - 102,500 - 104,500 - 106,500
- Ethereum: 3,250 - 3,350 - 3,450 - 3,650
Until the range is broken, it's advisable to follow this range for high sell and low buy strategies. The Bitcoin and Ethereum short positions opened yesterday are based on this range. The upper resistance levels haven't been reached yet, so you can adjust your positions accordingly as the situation develops.
If a breakout occurs, consider trying to add positions with small amounts.