The afternoon market maintains a weak oscillating structure. Bitcoin has fallen from a high point of around 104,949, briefly dipping to around 103,500 for oscillating consolidation, with the focus gradually shifting downwards; Ethereum's performance is slightly stronger, but it also faced a pullback after reaching a peak, currently oscillating in a narrow range around 2,666, maintaining a short-term oscillation repair rhythm.

From the current trend, on the 1-hour chart, Bitcoin has continuously closed with bearish candles, retreating below the middle band of the Bollinger Bands, indicating weakened short-term bullish momentum. The MACD death cross structure continues, with green bars increasing in volume, clearly indicating a bearish dominance; the KDJ three lines are converging at a low level, with the J value still in the oversold zone, and rebound momentum has yet to accumulate. The Bollinger Bands maintain an opening state, but the upper band is pressing down, making it highly likely to maintain a weak oscillating repair trend in the short term. Regarding Ethereum, the overall structure is still stronger than Bitcoin, but signs of weakness at the top are also present. If it cannot quickly recover to 2,700, it may easily fall into a high-level sideways consolidation.

For Bitcoin, 103,000–103,2000, as long as it does not break, it is still possible to try light long positions, targeting around 105,000; if it faces pressure again in the 104,000 range, consider light short positions. For Ethereum, 2,630–2,645, potential long positions can be set with targets at 2,700–2,750; if it falls below 2,600, then switch to a short position in the short term.