Israeli airstrikes on Iran caused Bitcoin to drop sharply, penetrating the strong support level of $106,800 on the four-hour chart, and further breaking through the $105,000 line, with a minimum drop to $102,655.

In the short term, the $106,800 line on the four-hour chart will be strong resistance, while the selling pressure above $108,400 for Ethereum is very high.

From the daily chart perspective, Bitcoin formed a bearish engulfing pattern with a large bearish candle yesterday. We need to closely monitor whether Bitcoin can stabilize above the $105,000 line on the daily chart.

On the daily chart, $100,000 is a strong support level. As long as Bitcoin continues to operate above $100,000, it remains in a strong consolidation phase.

Ethereum also experienced a significant drop today. I emphasized a few days ago that the $2,800–$2,850 range is a strong resistance line separating bulls from bears, and I have repeatedly stressed that I am not optimistic about Ethereum strongly breaking and stabilizing above this line.

A few days ago, retail investors were very enthusiastic about Ethereum, with many expecting it to rise above $3,000, but I have maintained a very rational judgment.

From the four-hour perspective, Ethereum strongly broke through the $2,650 line, leading to a weakening of bullish momentum, and at one point today, Ethereum dropped to $2,438.

Currently, the $2,650 line above Ethereum will be strong resistance, and Ethereum is facing a correction.

We should closely monitor the $2,450 line below Ethereum to see if it will be strongly broken down again on the four-hour chart. If Ethereum breaks this level, it will further test the strong support at the $2,300 line.

From the daily chart perspective, Ethereum formed a bearish engulfing pattern with a large bearish candle yesterday. Today, Ethereum has once again seen panic selling. We should closely watch Ethereum's closing price tonight to see if it can stabilize above the $2,550 line.

If today's daily close for Ethereum cannot stabilize above the $2,550 line, the bullish momentum will be completely suppressed, and Ethereum will need further adjustment and repair.