12.1 Morning Bitcoin and Ethereum Market Analysis

Good morning everyone, I am Yifan.

Currently, Bitcoin is showing signs of fatigue as it experiences a high-level sideways consolidation after a rebound: previously, it surged from 86260 to 93080 with strong momentum, but after reaching the 93000 level, it attempted to break through multiple times without success, and then retreated in a volatile manner, now consolidating around 91000, indicating insufficient bullish momentum.

The consecutive small bearish and bullish horizontal movements reflect both the hesitation of funds and confirm that selling pressure above still exists—currently, there is no new incremental capital to drive the price to continue rising. The longer the horizontal movement lasts, the more the upward momentum is consumed, and the risk of a market pullback also increases.

93080 is a key resistance level. If it cannot be broken after prolonged attacks, it can be seen as one of the signals of a top; the longer the consolidation period, the weaker the bullish momentum. The important support below is 90500. Once it is lost, bears may face a window of opportunity to exert pressure. The current market is in a stalemate of "weak upward momentum and limited pullbacks," but the overall rhythm has shifted to a bearish trend.

Operation Suggestions

- Bitcoin: It is recommended to place short positions in the range of 91500-92000, targeting the area of 90000-89500.
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- Ethereum: It is recommended to set up short positions in the range of 3050-3080, targeting the area of 3000-2970.