Today, the starting and falling point for BTC is 116938 in the morning, which is 10000 points lower than yesterday's highest point; ETH starting point is 4386, which is 146 points lower than yesterday's highest point; SOL starting point is 185.75, which is 7.6 points lower than yesterday's highest point. The short position taken in the morning should be held; no matter how much it rebounds today, it won't reach today's starting and falling point or the cost price of the short position.

The support points for BTC to go down further are 113450/113333, 112000 (if it breaks below, it could go to 111850/111555). This is a resistance area for the bulls; as long as the bears cannot break through in one go, it will be easy to pull back to 115000-117000. Therefore, in the short term, one cannot chase shorts here; if it does not break below the range of 113300-110000, it is the bottom. If I'm not mistaken, there will be a spike late tomorrow night.

Similarly, for ETH, chasing shorts cannot be done at 4150-4072 and below. As long as the bears cannot break through 4000 down to below 3930 at once, the nearby short positions will be easily trapped.

The 176.5 level for SOL is the golden ratio point of the larger wave from 210 to 155.75, the weekly EMA7, and also the lowest point of the smaller wave from 195 to 176. Theoretically, this is a bottom-fishing point, but it may not hold this time because the important defense line for BTC is 112000; there may be a spike below 176. There is support if it breaks below 174.85, 171.65, and 167.25, and any of these could counterattack at any time. One cannot chase shorts below 176.