In the afternoon, from the perspective of hourly technical indicators, the Bollinger Bands show a synchronized downward trend across all three lines, releasing a clear signal that short-term market bears are dominant. Currently, Bitcoin's price is fluctuating within the narrow range of 107500-106600. As the upper and lower Bollinger Bands gradually converge, market trading activity has noticeably decreased, leading to a stalemate in short-term direction. Under the dominance of bearish forces, the price continues to face downward pressure, with the possibility of testing the support level at the lower Bollinger Band.

Regarding the MACD indicator, the two lines remain parallel and are running downward, consistently staying below the zero axis. It is noteworthy that if the green momentum bars do not show significant signs of shortening, it indicates that bearish forces are still being released. Based on the current technical formation, it is highly probable that the market will continue to exhibit weak oscillation patterns in the short term, with the risk of further declines.

Afternoon operational analysis:

Bitcoin rebound: range of 107200-107700, target 105500

Ethereum rebound: range of 2480-2500, target 2420

Market conditions change rapidly; the above suggestions are for reference only, and specific operations should be based on actual circumstances!