In the early hours, the market entered a short-term range adjustment as expected. It is clearly visible that Bitcoin is constantly rising after a low pullback, but the highs above are continuously lowering. The bag's opening has shifted from expansion to contraction, and it is currently in a process of range compression. The oscillation range is constantly being suppressed, and after the compression is completed, a directional choice will be made. In this market situation, it is essential to pay close attention to the breaking conditions of key points above and below. After breaking upwards or downwards, maintaining oscillation near the key points will determine the subsequent short-term direction.
Considering the recent overall trend and the assessment of short-term technical indicators, the short-term still has stronger upward momentum. Therefore, the subsequent focus will be on the layout after the pullback, with cautious entry for short positions during the pullback; strong performance during the pullback should pay attention to the support level around 102500.
In the later hours, reference Bitcoin around 104000 for a long position, aiming for 105500; for Ether, reference around 2470 for a long position, aiming for 2600. Breaking points should be monitored for continuation.
