Four-hour engulfing pattern, has this round of short-term rise ended?

Yesterday, Bitcoin experienced a surge followed by a pullback, and so far the price has remained around 106500, which is within expectations. It was mentioned yesterday that the 108500 level would not be stable in the short term.

Returning to today's market, last night Bitcoin formed an engulfing line on the four-hour chart, which is a typical bearish signal and indicates that this round of short-term rise has ended. Therefore, subsequent long positions should be cautious of risks, and it is expected that the market needs to continue adjusting. Consider going short only after breaking the trend line at the price of 103300, as this would be the most prudent approach (note that currently, a short-term adjustment does not mean the trend has reversed; after a pullback, there are buying opportunities, and I remain optimistic about the rising trend in the second half of the year). Today's resistance is at 108000, with short-term support at 105500.

Ethereum's rebound strength is not very strong. Following Bitcoin's lead, it also saw a large bearish candlestick on the four-hour chart in the early morning, with bears taking control, and it has been consistently below the middle track. It is expected that the market will continue to adjust (after the adjustment, it will be a buying opportunity). Reference the buying price range of 2330-2280 below.

Solana has seen some positive news recently, but it still cannot rise significantly in the short term. The pressure above is strong, and further oscillation and adjustment are expected, so it is recommended to maintain a wait-and-see approach.

XRP's rebound was quite decent yesterday, peaking around 2.33. It is expected that if it can maintain a price above 20.3 for an extended period, a new round of increase can begin. Recently, it's better to observe more and act less.

BGB is expected to continue to maintain a oscillating market. Currently, the probability of hitting new lows is low, so just hold for the long term after buying; this platform coin should not perform too poorly in the future.

Dogecoin's current price is still around 0.17, and it is not advisable to participate at the moment. It is recommended to maintain a wait-and-see approach, as the market is expected to continue its oscillating downward trend. We can wait for a suitable price to enter in batches; observing more and acting less will be the biggest winner.