Bitcoin and Ethereum experienced a round of oscillation yesterday, followed by a correction and rebound. The US released the December ADP employment data, showing only 41,000 new jobs added, significantly less than the expected 50,000, indicating a slowdown in overall labor market growth. Interestingly, although some data has eased compared to before, the two main cryptocurrencies in the market did not rebound after the data was released; instead, they continued to weaken. Early last night, Bitcoin briefly dropped to around 90,700, with the decline gradually easing; Ethereum also behaved similarly, falling to around 3,130 before rebounding.

From a technical perspective, both coins showed some weakness at the beginning of the week. Bitcoin and Ethereum both struggled after rebounding to the early December highs, followed by profit-taking selling pressure, leading to a price correction. Currently, on the 4-hour chart, Bitcoin's price has retraced to near the lower band of the Bollinger Bands (around 90,000), where it found support, easing the downward momentum. The key point is that the RSI indicator has entered the oversold zone, and the MACD is also showing decreasing momentum. Although the bears still hold the advantage, the hourly RSI has already turned upward from the oversold area, indicating a short-term potential for a rebound and correction.

In the short term, Bitcoin needs to watch the resistance levels at 92,500 and 93,000. The critical support is at the 90,000 level, which is very important. If selling pressure continues to increase and the 90,000 level is broken, the next target could be around 89,000.

Ethereum's correction has been relatively mild. From a technical standpoint, the price stopped falling after retracing to the lower band of the 4-hour Bollinger Bands. Although the short-term bearish momentum is still strong, the hourly chart shows signs of a rebound and correction. The short-term resistance levels are at 3,200 and 3,250, while support levels are at 3,100 and 3,070. The most critical support is at the 3,000 level.

Overall, these two days are likely to be a period of correction. Tonight, special attention should be paid to the release of the US initial jobless claims data, as this data could have a certain impact on the market.