Looking back at the overall market trend in the afternoon, Bitcoin reached a peak of 106759 after a slight rise, but faced resistance and stopped there, and has not continued to rise; on the contrary, it has declined under pressure, indicating insufficient buying power. As the price has stopped declining, it is now testing around the 106000 mark. Opening up downward space is just a matter of time. Ethereum, after a slight rise in the morning, peaked at 2467 and has shown a trend of continuous slow pullback in the market, currently retracting to around 2422. The bearish outlook we provided in the morning is still ongoing!

From a four-hour perspective, although there were consecutive bullish candles earlier, they all showed long upper shadows, completely crushed by bearish pressure. No matter how much the bulls struggle, they are all absorbed by the bears. Currently, there is a tug-of-war between bulls and bears, displaying a gloomy market sentiment; neither side has broken this deadlock, which also shows the market's hesitation. Given the strong momentum of the previous rise, there is significant selling pressure above. Overall, the market shows signs of peaking, and without achieving effective breakout, the bullish momentum is limited. In the short term, we will still participate around low buying!

Bitcoin: In the afternoon, short around 106500. Target 103500

Ethereum: In the afternoon, short around 2450. Target 2370#加密市场反弹