Good morning! Bitcoin has been in a slow downward trend since midnight, with the price briefly dipping to 104,399. Although there was a rebound afterward, it is still fluctuating around the 105,000 mark; Ethereum also faced resistance at 2,559 and quickly retreated to the key support level near 2,490. The market is engaged in intense long and short battles, and the short-term direction remains unclear.

From the analysis of the four-hour candlestick chart, after the price broke below the middle track support, there was a slight rebound, but the rebound strength was weak, failing to regain the middle track, indicating heavy selling pressure above. The Bollinger Bands are gradually widening, which means increased market volatility, and the market will likely continue its downward trend. Currently, the candlesticks have been consistently closing in the red, with a clear bearish arrangement trend, and the overall market structure has shown top characteristics, increasing the risk of further declines. Observing the hourly level, the price has repeatedly faced resistance at the middle track during rebounds, and the moving average system has formed a bearish arrangement. Short-term bearish momentum continues to strengthen, with the rebound highs constantly shifting downward, and the short-term moving average system beginning to diverge downward, forming a suppressive situation. The range of 105,500 - 105,800 is not only a dense trading area from previous rebounds but also coincides with the resistance level of the hourly middle track, forming a strong resistance zone. If the price is pressured in this range, there is a high probability that around 104,200 will become the bearish target. Regarding Ethereum, the daily level has continuously closed with long upper shadows, indicating heavy selling pressure above. The range of 2,550 - 2,580 is both an important previous high and the upper Bollinger Band resistance area on the four-hour chart. If it cannot be effectively broken through, it is likely to continue the downward trend, targeting the support level of 2,480 below.

It is recommended to short Bitcoin in the range of 105,700 - 106,200, with a target price of 104,000; for Ethereum, short positions can be arranged in the range of 2,560 - 2,580, with a stop-loss set at 2,610 and a target below at 2,480. $BTC $ETH