The morning market shows a typical range-bound fluctuation trend, with the Bitcoin price being pressured down from the 105700 level, fluctuating down to the 105030 level. The Ethereum market is under pressure at the 2552 level, reaching a low of 2513. The bearish outlook we provided in the morning, although not at a perfect exit point, generally aligns with expectations; the direction is correct, and profits depend on stability.

From a technical analysis perspective, on the daily chart, after four consecutive bearish candles, there are now two consecutive bullish candles. However, the body of yesterday's bullish candle is relatively small, and the lower shadow is quite pronounced, indicating that the support level below at 104800 is still relatively strong. Although there has been a rebound in price, it still operates near the lower middle band of the Bollinger Bands, with the three Bollinger lines maintaining a stable parallel state. On the 4-hour chart, the price has currently rebounded to just above the middle band of the Bollinger Bands, with long lower shadows. The Bollinger Bands are narrowing, and there is a tug-of-war between bulls and bears. It is expected that the market will continue to maintain a narrow range-bound fluctuation, with a short-term view for a rebound, aiming for short-term long positions.

In the afternoon, a short position can be opened near 106500 for Bitcoin, targeting around 104500; for Ethereum, a short position can be opened at 2590-2610, targeting around 2500. $BTC $ETH