Yesterday's layout was incredibly strong! Five battles, five victories, zero failures. Each wave involved first revealing the strategy and then laying out the plan. In the end, Bitcoin surged by 5,300 points, and Ethereum steadily gained 160 points. From the current market's multi-cycle trends, operations should anchor on the core of 'range oscillation.' First, look at the four-hour level, where signs of bottoming and rebounding are stable. The price has reached key support without breaking, and the rising low points and narrowing pullbacks confirm buying support. The price ratio being blocked and rebounding at important points also aligns with the range logic of 'breaking down trending short, not breaking up chasing long,' clearly indicating that we haven't deviated from oscillation and there's no unilateral trend.

Looking at the hourly chart, although the price exhibits an upward arrangement and the pullback hasn't broken the previous low, the volume shrinks during the rebound, and the highs are still pressured by four-hour resistance, which constitutes a weak rebound of 'time for space.' This is merely a temporary balance between bulls and bears, not a reversal, and instead hides the risk of a pullback after the rebound. Considering these signals comprehensively, midnight operations should find a balance between range thinking and short-term momentum, ultimately focusing on high points to layout for short positions.

Midnight operation strategy: Short directly at 113,000-113,500, with a target of 110,000.