The rebound of Bitcoin yesterday operated around the 110,000 mark as expected, but the reality that the rebound strength is gradually weakening cannot be ignored. The current price is hovering around $110,200, and the market is facing a critical decision point. From a technical perspective, the upper resistance is slowly declining, forming a barrier that is difficult to surpass. If the price cannot hold above $110,000, it is likely to test the intraday support level again. On the short-term hourly chart, the market rebound has not formed effective stabilization. The trend continues to oscillate and consolidate along the five-day and ten-day moving averages, currently clearly constrained by the pressure of the thirty-day moving average. This technical pattern indicates that there is a significant divergence among market participants at the current price level. If there is no effective breakthrough and stabilization in this area, the possibility of further price declines will increase. Currently, market volatility is relatively low, with intraday gains of less than a thousand points, forming a typical Bull vs Bear Battle situation. In this oscillating repair market, blindly chasing rising prices before an effective breakout poses significant risks. A prudent trading strategy should focus on counter-trend short orders, only considering light positions after a clear breakout. The key resistance area above to watch is around 112,000, while the downward support should focus on the 108,200 line.

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Ethereum tested the $3900 mark during intraday rebounds, but the price of the coin repeatedly attempted to rise only to end in pullbacks, indicating strong resistance in that area. Analyzing recent trends, the 4-hour chart shows that Ethereum quickly rebounded after hitting a low of $3680 on October 31, forming a distinctive long lower shadow. This pattern clearly indicates that there is strong buying support below $3800. The upper shadow is evident (as seen on the November 1 high of $3909), which clearly shows that an effective selling pressure zone has formed in the range of $3930-$3980. In terms of technical indicators, the daily MACD is still running below the zero axis, and the overall trend has not fundamentally reversed. On the moving average system, the price continues to be under dual pressure from the 4-hour EMA30 ($3907) and EMA120 ($3991). Currently, only the 7-day moving average ($3875) can provide temporary support, and the market remains in a critical Bull vs Bear Battle stage. Without breaking through the key resistance above, there is still potential for downward movement. The trading strategy should maintain a focus on counter-trend short orders, but it is necessary to closely monitor the defense of key support levels. Any effective breakout needs to be confirmed by an increase in trading volume.
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The current market environment is overall leaning towards a downward trend, but there is still room for price rebound testing in the short term. Such a complex market environment requires investors to adopt a more cautious trading strategy. Bitcoin and Ethereum are currently at critical technical decision points, and a breakthrough by either side could trigger a trending market. In these market conditions, setting clear risk control measures is particularly important. The market always seeks direction amidst uncertainty, and the current state of balance between bulls and bears will not last long. Once a breakthrough occurs in one direction, the subsequent trend will accelerate. For cautious investors, it is wiser to wait for a clear market direction before taking action, rather than frequently trading in a volatile market.