The pancake hit a low point in the early morning, and the fact that it can't go down here precisely indicates that the lower side is stable enough. 103000 has already stabilized. Moreover, this pin on the 4-hour chart is enough to show the strong resistance of the bulls. I have mentioned before that the key range here (102400-104888) is a consolidation that is both a trap; a breakout will easily lead to a direction. I mentioned yesterday that if it doesn't break below 102400, I won't consider going short; I stand by my opinion.

Ethereum's structure here is not bad, but some biased patterns have appeared. If 2400 breaks down, it is still the lifeline of the bulls. It’s still the same statement: if the market doesn’t truly drop, Ethereum won’t have too much space to go down. Pay attention to Ethereum's rebound strength during the day; if it breaks and stabilizes above 2550, it indicates that the strength is decent, and the rebound will continue towards around 2580.

The plan remains unchanged; around 103200, I first look to go long to 105000, with the defense unchanged at #美国PPI数据来袭 #BTC走势分析 .