Bitcoin has pulled back to strong resistance as expected, but altcoins still seem to be struggling.

From the four-hour perspective, Bitcoin has been continuously forming small green candles, testing the strong resistance around $106,600 back and forth, indicating that the main force in the market is clearly running out of funds.

Keep a close eye on whether Bitcoin can have a strong bullish breakout and stabilize at the $106,600 level on the four-hour chart.

On the downside, closely monitor the strong support at the $102,800 level on the four-hour chart for Bitcoin.

From the daily perspective, Bitcoin has seen two consecutive large bullish candles. The $100,000 level remains a very strong support on the daily chart, while the $108,800 level continues to be a strong resistance. I believe Bitcoin will continue to oscillate at high levels.

Looking at Ethereum from the four-hour perspective, there is some selling pressure around the $2,450 level, but once Ethereum finishes adjusting, I expect it to gain further strength and challenge the strong resistance at the $2,560 level on the four-hour chart.

On the downside, closely monitor the first support at the $2,380 level, with a focus on the strong support at the $2,300 level.

From the daily perspective, the bullish momentum for Ethereum is very strong. The fake breakdown two days ago was intended to clear out a large amount of leverage. Ethereum is unlikely to see another significant drop in the short term, and the probability of a strong breakout below $2,180 in the near term is less than 20%.

On the upside, keep a close eye on the strong resistance at the $2,560 level, and the extremely strong resistance at the $2,680 level on the daily chart. Everyone should closely monitor whether there will be a strong bullish breakout and stabilization at the $2,680 level.

Ethereum is known as the largest altcoin, and it truly lives up to its name, with a market value of over $300 billion. It's easily manipulated by institutional capital on exchanges, so when planning to trade Ethereum contracts with leverage, be sure to manage your capital allocation well and control your position size; avoid heavy trading.