The midnight price of Bitcoin has been under pressure since the key resistance level of 105240, followed by a stepwise correction; the intraday low fell to the support area of 103800, with Ethereum showing a more pronounced adjustment. Its price continued to decline after being blocked at the 2517 level, stopping at 2455. From the daily chart perspective, the current price is running between the middle and lower bands of the Bollinger Bands, presenting a neutral to weak pattern. The MACD indicator shows that bearish momentum still dominates, although the bearish momentum bars have narrowed, the DIF line remains below the DEA line, coupled with the moving average system not forming a clear bullish arrangement, the overall trend still faces oscillating downward pressure. In contrast, on the 4-hour chart, the market shows a relatively strong rebound momentum, with the price gradually approaching the middle band of the Bollinger Bands. Analysis reveals that the 101900-102000 range has formed a solid support platform due to the technical resonance between the daily lower band and the 4-hour lower band. On the resistance side, the 4-hour middle band at the 104350 point has become a key watershed for short-term bullish and bearish battles.