Bitcoin and Ethereum Market Analysis and Operation Guide

Analyzing from the daily chart perspective, after a rapid rise in Bitcoin recently, it has now entered a phase of sideways consolidation. The Bollinger Bands indicator shows that the upper and lower bands are gradually narrowing, indicating a convergence, which often suggests that the market's volatility is decreasing. Regarding the moving averages, the 5-day, 10-day, and 20-day moving averages are interweaving, showing no clear directional bias. The 5-day moving average fluctuates back and forth between the 10-day and 20-day moving averages, clearly indicating that the forces of bulls and bears are relatively balanced in the short term, and there is currently no definitive dominant trend in the market.

Looking at the 4-hour level, the price of Bitcoin fluctuates within a relatively narrow range, forming a consolidation pattern. The price has attempted multiple times to break through the resistance above, but has failed to achieve an effective breakthrough, which fully shows the heavy selling pressure above. However, the support level below has played a certain role in supporting during multiple pullbacks, preventing a significant decline in price. Based on this market situation, it is suitable to implement a strategy of buying low and selling high within the consolidation range.

For Bitcoin, consider shorting in the range of 118300-118500, with a short-term target set at 116500.

For Ethereum, short selling can be done around 3770-3790, with a short-term target of 3670.