The market on Thursday basically followed through, and we will discuss the data news in the early morning separately. To briefly review today's market, after further determining the fluctuation range, the Asian session once retested around 104300 and consolidated. As the evening market welcomed a surge from the bulls, the price once recovered to around 105800 before facing a pullback. After the U.S. stock market opened, the price experienced a deep retracement, hitting a low of around 103800. The current market structure is still weak and remains in a low-level consolidation pattern. Ethereum is tracking the trend of Bitcoin, but during the day, Ethereum continued to break down, falling below the support level of 2580, with the price hitting a low of 2556. During the day, we operated with a mainly bearish mindset; short-term operations were prioritized, while medium to long-term operations were not restricted to two positions. Bitcoin has a total range of over 2000 points. Ethereum has a total range of over 100 points.

The daily line has seen three consecutive downward candles, and the current retracement has not yet tested the support of the lower band. Overall, the structure is still in a low-level consolidation, and the Bollinger Bands are showing a flattening trend, with the middle band exerting strong pressure. The overall market still has room for downward adjustment, and the price is expected to test the support at 102000 after retracing. Looking at the four-hour chart, the market has been under pressure from the middle band throughout the day. As the evening saw back-and-forth market movements, the K-line formed a small bearish candle with long upper and lower shadows before closing. The market further retraced to test the support of the lower band, revealing clear bearish signals. Currently, although the downward channel of the Bollinger Bands has not opened, the momentum for retracement has already started, and there is still room for further retracement in the early morning. We will continue to watch for pullbacks.

Bitcoin can be shorted in the range of 103700-104200, looking at around 102000. Ethereum can be shorted in the range of 2570-2600, looking at around 2470. #BTC