This round of rebound indeed appears to be somewhat mild in terms of strength. Although the price has successfully risen above the 114,000 mark, breaking the previous deadlock, the subsequent upward momentum is clearly insufficient—there has been neither a significant breakout followed by inertia nor has it attracted more external funds to follow in, making this critical level a 'break without establishing' situation, more like a tentative pulse rather than a signal of trend reversal.

From a technical perspective, the current coin price is stuck at the intersection of two key positions: near the middle band of the Bollinger Bands on the four-hour level. This position inherently carries the nature of a tug-of-war between bulls and bears— for short-term bulls, the middle band is an important support during the previous correction process, and if it can stabilize here, it is expected to reorganize and push upwards based on this position; however, for bears, the middle band coincides with the downward channel's translation pressure level, which means there is a technical indicator suppression here. Structurally, it is still under pressure, and the upper pressure of the downward channel has been continuously shifting since the previous high, without any change in slope due to this rebound, indicating that the major adjustment trend has not been broken yet; it is advisable to continue treating it with high shorts in the morning.

Bitcoin short at 114,700, focus on 113,000.

Ethereum short at 4,360, focus on 4,250.