Good morning everyone, yesterday we rested early, but the ideas were still presented. Currently, the highest point reached is around 104200, which overall aligns with our midnight thoughts. The bearish side has faced some liquidation, and the short-term market sentiment for bulls is beginning to recover. On the Ethereum side, the rebound rhythm synchronized at midnight, with prices quickly rising to around 2600 before facing pressure. It has now pulled back to around 2540. Those who saw the midnight ideas should have gained something, so let's get back to the current market situation.

From the 4-hour technical analysis of Bitcoin, the current market is facing certain adjustment pressures. In the Bollinger Bands indicator, the price has repeatedly tested the upper band but has not been able to form an effective breakout. Currently, the price is maintaining a narrow range of fluctuations around the middle band. As the bullish momentum continues to weaken, there is a potential risk of further seeking support at the lower band. In the KDJ indicator, the three lines are in a converging state, clearly reflecting that the bullish power has shown significant signs of exhaustion. Once the J value turns downwards first and drags the K and D values to form a dead cross pattern, this will trigger a technical pullback signal. In the MACD indicator, the DIF line and DEA line continue to run below the zero axis, intuitively indicating that the market is currently in a bearish-dominated pattern. Although there has been a recent increase in red bars, if the market volume cannot effectively follow up, it will be difficult for the DIF line to successfully cross above the zero axis. In that case, the price of Bitcoin will likely return to the downward channel, putting more significant pressure on market prices.

For Bitcoin, the morning reference suggests laying out short positions in the range of 103800-104300, with the initial target looking towards around 102000. For Ethereum, short positions can be entered in the range of 2570-2600, with a target looking towards around 2450.