Recently, the global financial markets have been influenced by the strong performance of the United States and the geopolitical situation in the Middle East, leading to a rise in panic sentiment. This atmosphere has also spread to the encryption market, resulting in significant fluctuations in major digital assets.

Bitcoin has recently experienced a significant drop, falling from around $102,700 to approximately $98,600. Although there was a slight rebound afterwards, it is still in an overall downward trend, currently oscillating around $99,300. Market observers believe that in the short term, Bitcoin may consolidate in the range of $99,000 to $101,500.

The main resistance levels above are concentrated around $100,500, $101,800, and $102,700. If it can break through the key resistance level of $102,000, it may trigger a strong rebound. Conversely, if it continues to decline, attention should be paid to the support levels near $97,200, $95,800, and $94,300.

Ethereum is also under pressure, retreating from around $2,310 to about $2,155. Investors should closely monitor the resistance levels at $2,260 and $2,310, as well as the support levels at $2,150, $2,100, and $2,050.

From a technical perspective, the current market is in a consolidation and repair phase. Although the rebound momentum has strengthened, it is still insufficient to change the overall downward trend. The appearance of doji candlesticks and flat-bottom patterns on the candlestick chart, combined with the oscillating characteristics shown by technical indicators, all suggest that there may continue to be oscillation and consolidation within a certain range in the short term.

For traders, Bitcoin may face selling pressure in the range of $100,800 to $101,500, with potential downside targets at $98,000, $97,000, or even $96,000. Ethereum may encounter resistance at $2,290 to $2,340, with downside targets around $2,180 to $2,130.

In the face of the current complex market environment, investors need to remain vigilant and manage risks effectively. The uncertainty of the global geopolitical situation may continue to impact the encryption market, so closely monitoring relevant news developments is also crucial.