The midnight market again gives us room for a pullback, with a strong bearish trend gaining momentum. The Bitcoin bearish market continues from yesterday's trend, steadily advancing from around 114000 to a low point near 112700. The Ethereum trend is slightly weaker, with a solid support level around 4100. The pullback lacks sufficient breakthrough strength, and this point will soon be a turning point for subsequent trends. If an effective pullback breakthrough occurs, the bear market is likely to deepen and continue.

From a four-hour perspective, the market shows a clear characteristic of bearish candlestick arrangement, forming a phase of pullback trend. It is worth noting that each time a pin bar pullback occurs, the market enters a certain adjustment period, but this does not change the overall direction of movement, which is still dominated by a bearish one-sided trend. In terms of technical indicators, a top divergence pattern has formed, suggesting that the current trend may face pullback pressure. At the same time, the golden cross pattern of the fast and slow lines continues to move downward, and the dead cross that appears during this period further strengthens the pullback trend, indicating that bearish forces are continuously accumulating, and the depth of the trend is also deepening. Overall, the pattern dominated by bears is likely to continue in the short term.

Wednesday morning operation suggestion: Bitcoin short in the range of 113500-113800, target 111500.

Wednesday morning operation suggestion: Ethereum short in the range of 4170-4200, target 4000.

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