The large pancake tested the key support at 107,000 after the U.S. stock market opened and did not break it; it is now fluctuating around 107,200. The recent three dips have not effectively broken below, forming a short-term bottom. Friends following the Silk Road should not be anxious; let the bullets fly for a while.

Looking at the 4-hour level, the RSI is approaching overbought but not overheated, still having room for upward movement. The MACD also shows a golden cross between the fast and slow lines, and the histogram has turned red, indicating a short-term bullish advantage. On the Ethereum side, there was a net inflow of $2.75 billion last week, setting a new high since December 2024. The institutional strategy of "buying more as it drops" provides ammunition for the 107,000 defense line. In summary, 107,000 has become a critical line for bulls and bears — holding it provides the strength to attack historical highs again, while losing it could lead to a deep correction to 105,000 or even 100,000. It is recommended to closely monitor tonight's NVIDIA earnings report and tomorrow night's PCE data; the technical outlook is short-term bullish, but we need to be wary of the volatility spikes caused by event disturbances.

Traders should act like snipers: the 107,000 defense line is cover, 109,000 is the high ground, and the PCE data is the wind speed measurement before pulling the trigger — waiting for the factors to resonate for a guaranteed hit. Tonight, the Micromagic team will accompany everyone through this!#币安HODLer空投SOPH #比特币2025大会