Yesterday at midnight, the cryptocurrency price continued to decline, reaching the lower band of the daily Bollinger Bands near the 100700 level, where it stopped falling and began to rebound. In the morning, the price of Bitcoin again approached the first resistance level at 103300, facing pressure, and retraced to around 102300. Overall, there are signs of a bottom being formed again, but we still need to observe the breakout situation in the range of 103300-103800 to choose the subsequent direction.

In terms of technical patterns, the four-hour level is still in a downward channel, and there is almost no support below. If it cannot stabilize above the 103800 pressure at this four-hour level, further declines are inevitable. The K-line is being suppressed below the middle band of the Bollinger Bands, and the short-term stagnation is merely to repair the market. It is often said that there is no market that only rises without falling, nor one that only falls without rising. Currently, it appears to be a market repair, and the pattern is still in a downward trend, with short-selling on rallies remaining the current trend.

For Bitcoin, near 103300-103800, the short target is not set too far, first looking at 101500, and we will wait for the subsequent market opening on Monday. Over the weekend, we can look at short-term (a bit aggressive could try shorting at 103000).

As for Ether, a short position can be considered near 2320, and if it breaks 2360 and stabilizes, then it should be closed. The target can be looked at as 2250, 2240, 1830, 7351, 6204, 6153, 3083, 3647, 0779, 7440, 8959, 215.