In the morning, a bullish approach was proposed based on the expectation of short-term recovery. However, the key support level near 111800 was effectively broken, and the rebound momentum is extremely weak, leading to the failure of the bullish recovery logic. The lower edge of the earlier large bullish candle rebound was originally the core of the bullish defense. This morning, the market directly broke below this level with increased volume, and it was unable to recover during the pullback, marking a complete failure of the expectation for a retest and consolidation. If the support were effective, the price should have stopped falling and rebounded in that area. However, after the breakout, even the pullback was weak, indicating that the bearish selling pressure has taken control. Since the breakout logic has replaced the recovery expectation, operational strategies need to be adjusted promptly. One can use the resistance from the pullback to place short positions, betting on the continuation of the decline. #BTC #ETH

Operational Suggestions:

For Bitcoin around 112000, target 110500—110000

For Ethereum around 4620, target 4500—4450