After the price of the coin surged to 108800, it quickly retraced to around 107600, followed by a sideways consolidation adjustment pattern. The two rounds of profits during the day have been easily captured. We will wait for the U.S. stock market to open in the evening before making further arrangements. From a daily perspective, today is currently showing a small bearish candle, with a relatively long upper shadow, reflecting strong resistance above, and the market currently shows a bearish trend. Looking at the four-hour chart, a large bearish candle quickly reclaimed all the upward space from early this morning. In the short term, the bearish sentiment is relatively strong, and the price of the coin still has room to dip, with support around 106500. Therefore, we will primarily focus on shorting on rebounds.
For Bitcoin, short positions are recommended around 107600-108000, with attention to the area around 106500. For Ethereum, short positions are recommended around 2480-2500, with attention to the area around 2380.
