According to the current market situation, the four-hour level shows that after experiencing a two-day bullish rebound, the bears have come out with a two-day bearish pullback. It is evident that the price is also under pressure at the middle track. Combined with the recent downward trend of the market, it has not completely finished, and the multiple rebounds of the bulls have not provided significant breakthroughs, which means that the overall downward trend will continue. From the one-hour level, the market is showing a three-day bearish downward breakthrough through the middle track of the Bollinger Bands, and the KDJ indicator's three lines have formed a dead cross pattern and are diverging downward, indicating that the downward trend has begun, and the bears are starting to increase their volume. Therefore, in the afternoon, we will continue to maintain a bearish outlook.

Bitcoin can be shorted around 111000-111500, with a target of 109000.

Ethereum can be shorted around 4600-4630, with a target of 4450.