The market conditions for Wednesday can be described as indecisive, with the overall market still maintaining a range of 105000-107000 for oscillating trading. The only highlight of the day is the breakthrough of the 107000 mark, but the current situation is fluctuating around the 107000 level. The price of Bitcoin reached a daily high of 107166. The Ethereum market in the afternoon showed a back-and-forth tug-of-war between bulls and bears, with the overall trend still slowly retreating around the bearish sentiment, and the lowest price in the afternoon retraced to the low level of 2405.

From the perspective of the one-hour chart, after previously breaking the support and reaching the level of 98115, the subsequent market has basically been in a one-sided upward correction. The movement has been relatively slow. From the current four-hour technical indicators, although it is at a short-term high, multiple technical indicators and price structures show that the upward momentum is weakening, and there is a significant risk of correction. The key resistance level of 107500 has been successfully suppressed, and the volume shows a divergence characteristic of decreasing bullish and increasing bearish signals, indicating that the main force is selling at high prices. The KDJ indicator has turned downward in the overbought zone, about to form a death cross; the MACD momentum bar continues to shorten, indicating a weakening of bullish strength; the RSI has failed to break through the strong bullish area of 70+, showing a lack of upward momentum. In the evening, we will plan two strategies, looking for a pullback near 107500 and following the trend if it breaks through.

Bitcoin: Short near 107500 with a short-term target of 105000

Ethereum: Short near 2450 with a short-term target of 2350