Bitcoin has pulled back to the previously mentioned support level of 112,000, stopping the decline and bouncing back. However, the rebound is weak and lacks volume, and there is a possibility of another drop to test the 110,000 integer level. I am waiting for a pullback near 110,000 to enter, which would be more certain.

ETH is similar; at this position, it's not easy to determine whether to go short or long, so I choose to close previous positions and observe. If Bitcoin tests the 110,000 level again, ETH should also test below 3,500, and it would be better to act at that time.

So currently, we are looking at a weak rebound followed by a continued pullback trend. The main reason is that the rebound lacks volume, making it difficult to determine the sustainability of the rebound. If Bitcoin starts to increase in volume and holds above 115,700 later, I will change my view and think that this decline has ended and that the rebound will continue (as shown in Figure 3).