Looking back at the market, Bitcoin prices began a slight upward trend last night, forming a brief surge. However, this increase was not sustained and quickly retraced this morning. The price of Bitcoin exhibited significant fluctuations throughout the day, reaching a high of 104,859 before encountering resistance and falling back, with a low of 103,860, showcasing the short-term tug-of-war between bulls and bears. In contrast, Ethereum's performance appeared more stable, with its price correction only arriving late in today's morning session, exhibiting relatively mild fluctuations. As predicted in yesterday's analysis, market activity over the weekend is usually limited, providing some operational space for both bulls and bears; although there are ups and downs in the market, the overall amplitude remains controllable. Focus on short-term strength around the range.

From the current four-hour chart perspective, the overall trend is still in a downward channel in the short term, undergoing a consolidation at the bottom. The weekend's bottom correction seeks to find support after the fluctuations earlier in the month before attempting to push higher in the market after June. Currently, the Bollinger Bands' structural shape is still diverging downward, showing no signs of bottoming out yet. In the short term, we will continue to maintain a bearish outlook. We will consider long-position bottoming only after signals of a completed bottom.

Bitcoin can be shorted at 104,500-105,000, looking towards around 102,000. Ethereum can be shorted at 2,530-2,560, looking towards around 2,450. #BTC