Qin Feng's Morning Thoughts

Currently, the price of Bitcoin and Ethereum are deviating from the technical framework and are driven by market sentiment. Although there was a strong rally last night, Bitcoin showed a shrinking upward adjustment after a large bullish candle on the four-hour chart, with the upper shadow indicating heavy selling pressure. The hourly volatility is narrowing, and the bullish momentum has been fully released. In the morning session, it is advisable to take a light short position and observe for retracement and breakout, with strict defense measures in place.

Short Bitcoin near 116600-116300, targeting around 115800, with a stop loss at 117000.

Short Ethereum near 4780-4750, targeting around 4700, with a stop loss at 4800#btc .