The rebound of Bitcoin yesterday operated around the 110,000 mark as expected, but the reality of the gradually weakening rebound 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 beginning to move down slowly, forming a barrier that is difficult to overcome. If the price cannot stabilize and hold above $110,000, it is likely to test the intraday support level again. On the short-term hourly chart, the market rebound and repair have not formed an 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 it cannot effectively break through and hold steady in this area, the possibility of further price declines will increase. The current 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 carries significant risks. A prudent trading strategy should focus on counter-trend shorts, and only consider Light Position follow-up after a clear breakout. The key resistance area above is around 112,000, while the downward support focuses on the 108,200 line.

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Ethereum tested the $3900 level during the intraday rebound, but the coin price repeatedly attempted to rise only to end in a pullback, indicating strong resistance in this 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 significant (such as the high of $3909 on November 1), clearly indicating that the range of $3930-$3980 has formed an effective selling pressure zone. In terms of technical indicators, the daily MACD is still operating below the zero line, and the overall trend has not fundamentally reversed. On the moving average system, the price is continuously 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 is still in a critical stage of the bull vs bear battle. Without breaking through the key resistance above, there is still the possibility of a downward movement. The trading strategy should maintain a focus on counter-trend short orders, but close attention should be paid to the defense of key support levels. Any effective breakout needs to be confirmed by an increase in trading volume.

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Although the current market environment is generally leaning towards a downward trend, there is still potential for a Rebound test in the short term. This complex market situation requires investors to adopt a more cautious trading strategy. Bitcoin and Ethereum are currently at a critical technical decision point, and any breakthrough by either side could trigger a trending market. Under these market conditions, setting clear risk control measures is particularly important. The market is always searching for direction amid uncertainty, and the current state of balance between Bull and Bear will not last long. Once a direction breaks through, the subsequent trend will accelerate. For cautious investors, waiting for the market to clarify its direction before acting is wiser than frequently trading in a fluctuating market.