Bitcoin rebounds to 90,000, Ethereum fails again to reach 3,000!

Good evening, I am Zhong Ling. The day before yesterday, the weekly options expiration ended with little fanfare—Bitcoin's rebound to 90,000 failed to break through, and Ethereum also touched 3,000 before falling back. The overall volatility wasn't very large, more like a small version of a rise and fall! After all, each options expiration day usually brings intense surges and dips to shake out traders. This time, the market reaction wasn't as intense, likely due to holiday effects, since the period from Christmas to New Year’s is the holiday season in many Western countries. Institutions are on vacation, retail traders are idling, and large amounts of real money are rarely entering the market, making it relatively calm and subdued. However, this is only a temporary suppression. Once the holiday ends, the market volume will rebound, and there may be significant fluctuations.

Currently, Bitcoin is trading sideways around 87,400, and Ethereum is also oscillating near 2,920. From a technical perspective, both coins' daily Bollinger Bands are continuing to flatten, with MACD and RSI also in a flat state. The short-term moving averages are similarly flat, which also reflects shrinking trading volume, especially over the weekend. The short-term trend will likely continue to be sideways, so we should focus on the recent range for now.

In the short term, Bitcoin targets 88,500; a breakout could lead to 92,500.

Ethereum targets 2,990; a breakout could lead to 3,060.