The afternoon market has once again completed its course, with Bitcoin retracing to a low of around 103600 before stopping the decline, while the price ratio has remained around 104000, fluctuating and consolidating. In the afternoon, stimulated by news of tariff cancellations, it surged to around 105800. The Altcoin followed suit, with a maximum rise to around 2620. During the day, we unfortunately suffered minor losses of over a thousand points on our short position laid out in the afternoon. After the market was fully released and reached the peak, we again set up short positions at the high of 105500. When the market retraced to around 104500, we secured over 1000 points, successfully recovering the day's losses and preserving today's profits. Stimulated by news, this will only temporarily change the oscillation pattern and cannot alter the overall structure. This surge has once again cleared the upper leverage, and the market still has room for adjustment.
Currently, the hourly K-line continues to show an oscillating upward pattern, with the overall trend still operating within the upward channel. The technical aspect shows a gradual rise in lows and a characteristic of oscillating tests of highs, indicating that the market is still in a stage of accumulating strength. As the Bollinger Bands narrow, the price volatility has contracted, and the current fluctuation range has returned to the mid-range of the day's oscillation. The current trend continuity judgment is based on the five-wave upward structure at the daily level. Although the short-term upward trend has not changed, the larger cycle's overbought area is being squeezed. After the price broke through the integer level of 105000, the price ratio formed a retracement space again. In the short term, we still maintain a flexible oscillating operation approach, focusing on observing the continuation of the breakthrough at the resistance level. Long-term planners can wait for a high to fall back after the market sentiment is fully released; light positions can look for rebound shorts.
Bitcoin can short at 104800-105300, targeting around 103000, while Ethereum can short at 2600-2580, targeting around 2500.
