Midnight BTC/ETH Market View:

Good midnight, Ethereum surged last night, reaching the 2740 line, while Bitcoin remained unmoved, with a maximum rebound to 205000 before pulling back. After rebounding to 204300 in the evening, it started to pull back again, with the high point gradually decreasing. The US stock market is rising, and Ethereum is rising, but neither has been able to stimulate Bitcoin to take off. The probability of a new high taking off in the short term is not very high.

For Bitcoin, pay attention to the resistance at 104000 and 105000. It’s possible to try participating in short positions here. For support below, focus on 102000 and 100500. Low long positions should be entered around here. Since the new high can't be reached quickly, we can only hope for a pullback to provide an opportunity for low long positions.

Ethereum has had five consecutive bearish candles on the 4-hour chart, showing a stepwise decline. The high points of the rebounds are continuously decreasing, while the low points of the pullbacks are also going lower. Recently, such explosive surges need to pull back, otherwise, to be honest, long positions are trembling; it's really hard to get in. Last night’s surge was 300 points, and chasing the rise feels like chasing the ceiling. After all, Bitcoin isn’t moving much. Once institutions take profits, it can lead to a sharp drop. Ethereum needs a healthy pullback, not that kind of sudden plunge or waterfall, but a slow decline.

For Ethereum, pay attention to the support levels at 2550, 2450, and 2400. Currently, I hold short positions at 2590 and 2630, waiting for a drop. I believe many others are also stuck in shorts, waiting for a pullback to break even! I won't dare to take long positions before a deep pullback occurs!