The market activity has concluded in the early morning. Due to the price drop last night, a large-scale liquidation occurred, and there have not been significant fluctuations in the market this morning, maintaining a narrow range of fluctuations. Ethereum is also following the same trend as Bitcoin, currently undergoing a correction.

From the current chart perspective, Bitcoin has a large bearish bar on the daily chart that directly penetrates the middle track, with a relatively full body and a large space base, breaking the previous consecutive upward trend. The upper and lower shadows are prominent, indicating that the current market lacks continuity. In the four-hour structure, after three consecutive bearish candles, the price again enters a state of fluctuation. Due to the rapid price drop entering a repair phase, the market is in distress, and trading volume is gradually decreasing, so the market is in a state of fluctuation. It is advised to consider short positions at high levels.

This morning, Bitcoin can be shorted in the range of 118500-119000, with a target around 117000; Ethereum can be shorted in the range of 4550-4570, with a target around 4450. $BTC