Looking back at the overall market on Wednesday, there was some improvement in the market that had been stagnant until the evening, but it still lacked momentum. During the day, the trend mainly revolved around a slow upward movement, so we maintained our short positions throughout the day, waiting for a suitable opportunity. The major coin rose by more than 2000 points during the day, which honestly was unexpected, as it still had such momentum after the previous strong rally. In the evening, the coin price strongly broke through the 108000 mark, and we immediately entered short positions. The market then underwent a correction, with the current coin price hovering above 107000, repeatedly testing the bottom support. Compared to the major coin, Ethereum's trend is slightly weaker. During the day, it basically exhibited a corrective trend, gradually moving lower. The lowest point during the day touched the low level of 2388.

Although the major coin has been rising with consecutive daily candles, the key resistance above still cannot be ignored. Before hitting a new high, a pullback adjustment is a healthy trend; otherwise, if there is a continued surge, it would mean a complete liquidation of shorts, and a violent pullback after reaching a new high would be even bloodier. Personally, I still lean towards a pullback, as this would extend the subsequent rise better. Therefore, near the resistance zone, do not chase the rise; be careful of being caught off guard. After a strong rise in the 4-hour timeframe, there was no retracement, leading to fragmented upward movement. Although such a candlestick pattern has a high probability of resulting in a strong rise later, the current candlestick closing pattern is also very important. If it maintains the current state or closes with a bearish candle, it indicates a weakening of bullish momentum, increasing the probability of an adjustment. Additionally, the auxiliary indicators have entered the overbought territory. The rise of the major coin did not drive Ethereum; the previously mentioned short at 2480 has yielded good results, and their kind of movement is not surprising. Ethereum's daily level has not broken through EMA200 and the middle track, temporarily just resting above MA60 and MA7, so the short-term focus should be on its support situation. Once it breaks, it will likely test the lower track again. On Wednesday midnight, we still primarily focused on shorts.

Bitcoin: Short around 108000 Target 106000

Ethereum: Short around 2450 Target 2380