From a four-hour perspective, the 5.23 Bollinger Bands have opened a box structure. Each time it touches the 110,000 mark, there is a significant drop forming a wave pattern. The KDJ indicator shows a death cross declining, with strong resistance at the upper band. The 110,000 position has become a long-term short layout point. If there is no breakthrough to a new high subsequently, we still look for a pullback before continuing to rise!

Bitcoin: 1108 00-10 9800 short, target around 1083 00-10 7800

Ethereum: 26 00-26 20 short, target around 2550-2500