Recently, looking at the Bitcoin market, over the weekend it was hovering around 90,600, with a terrifyingly small fluctuation range of only 500 points. Both bulls and bears are holding back, the four-hour Bollinger Bands have tightened significantly, and the moving averages have flattened. The rebound highs are getting lower each time, feeling like the momentum is losing steam.

My personal judgment is that this wave is more likely to rebound first and then test lower. For Bitcoin, the key is whether it can withstand the pressure at 91,900 to 92,500. If it can't hold the pressure and pulls back, focus on 90,900 first, then support around 89,500. As for Ethereum, referencing the resistance at 3,160 to 3,190, support is in the 3,060 to 2,950 range.

Honestly, the overall trend is still in a consolidation phase. Whether it can break through these resistances is a critical watershed. If it keeps failing to rise, the retracement could be quite sharp.

This sideways movement is almost over. What do you guys think about the next direction? Continue the rebound or have other ideas? Let's chat below.