After testing the bottom support several times, how long will the narrow range oscillation last?

The daily market was weak. Due to the positive news on the unemployment benefit data, the market rebounded after retreating from the high point to the bottom support. However, the subsequent buying volume shrank and failed to reach higher expectations. The weakening trend still exists.

Bitcoin

After the market rose rapidly, it was suppressed by the selling pressure from above and entered a narrow range consolidation, forming a rising flag consolidation pattern. The current trend is still in a volatile downward structure, and it has not been able to get out of the closing signal. The main idea is to maintain the range oscillation operation.

From the 4-hour level, the price of the currency is running at a low level. In the short term, the bullish momentum is insufficient and there is a risk of further decline, so those who intervene in the short position can continue to hold.

Focus on the support near 26000 below. After it is touched, you can reduce or exit the position appropriately. Choose to enter the market again according to the stabilization or breakout of the bottom of the market.

Ethereum

After the market came out of the triangle consolidation pattern, the willingness of buyers to intervene was not strong, resulting in weak upward momentum. The high point was tested many times, but no effective breakthrough was achieved. Obviously, there was strong selling pressure above. Continue to maintain the small cycle range consolidation.

In the 4-hour chart, the price of the currency rebounded from the bottom, but the rebound was not as high as the previous high, and it fell again. Obviously, the selling pressure was too heavy, and there was a possibility of further decline.

Pay attention to the top support of the box below. Once an effective break is formed, the short position can be continued to look down to around 1800-1780.

To sum up, this is only my personal opinion. I would like to remind you again to pay attention to risk control and remember to pay attention to the latest news every day. If you have any questions, you can consult at any time.