The market saw an overall volatile correction at midnight. Bitcoin encountered resistance at 112,567 and fell back, ultimately finding support near 110,866. Ethereum also fell under pressure from the 465 high, hitting a low of 4482 before stabilizing. The overall market trend fully confirmed our previous prediction of shorting rallies after rebounds, perfectly validating our bearish strategy. We simultaneously entered short positions on Bitcoin and Ethereum at 112,454 and 4637, exiting at 111,070 and 4529, respectively. Bitcoin's short position gained 1,380 points, while Ethereum's short position gained 108 points.

A technical analysis of the current market dynamics reveals a typical range-bound downward trend on the daily chart. The middle band acts as a solid barrier, providing significant resistance to upward price movements. Despite repeated attempts to challenge the resistance level at the middle band during this correction, the market failed to achieve a substantial breakthrough, instead rapidly retracing after each attempt. Despite occasional signs of a minor rebound, these have lacked sufficient buying momentum and have been noticeably weak. Currently, the price has reached the lower Bollinger Band, finding some technical buying support there, triggering a short-term corrective rebound. However, the overall market remains relatively weak. In this context, we should closely monitor the strength and sustainability of the rebound, using this as a basis for flexibly responding to potential pullbacks.

Bitcoin: Short positions in the 112,000-112,500 range, with a target around 110,000.

Ethereum: Short positions in the 4,500-4,530 range, with a target around 4,400. #币安钱包TGE $SOL