The big pancake (Bitcoin) has shown strong upward momentum this morning, once reaching a high of 108900, hitting our target range, allowing us to exit our position. However, it failed to break through effectively and subsequently experienced a rapid decline, currently pulling back to the 107500 level, entering a phase of adjustment and consolidation in the short term; Ethereum experienced a long period of consolidation before rapidly rising to around 2680, and then similarly fell sharply below 2600, failing to reach the 2700 target.

From the current trend, there is strong resistance on the four-hour chart, and there is a certain need for short-term pullback and correction. On the hourly chart, the current bears are showing strong volume, with significant sell-offs at high levels, largely erasing previous gains. If the 106800 range cannot stabilize, it will continue to test below 106000.

For Bitcoin, short at 106700-107100. If 10600 breaks, look towards around 105200. For Ethereum, short near 2580, looking towards around 2490.