Bitcoin has been consolidating for several days. After a spike to 100,000 last Friday, it has been oscillating around the 96,000 level with relatively small fluctuations.

Especially on the daily chart, it has been closing near a doji candlestick for several consecutive days. This pattern, regardless of whether it is bearish or bullish, does not make much of a difference!

However, it is important to be cautious about prolonged consolidation at low levels. If the support below cannot hold, it is often subject to a backlash from bulls. Before the oscillation, the daily chart was in a downtrend, and currently, the support in the 95,000-96,000 area is being solidified. If it holds today, we can look for a rebound!

In the short term, a short position can still be taken around 97,500, with a stop loss at 98,300; looking down to 95,500-95,000. If it retraces to around 94,000, we can consider going long! Of course, in the short term, attention should be paid to the breakout and stabilization at 98,000. If it holds above this level, there is a possibility of continuing to challenge 100,000!

Ethereum's strength is limited. If we compare it horizontally at the same time point, Ethereum at 3,000 is only worthy of Bitcoin at 90,000. If Bitcoin is weak, Ethereum will inevitably be weak, even weaker.

Currently, the short-term resistance is at 2,680. Today, we can short based on 2,680-2,700, looking down to 2,500!

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