The intraday trading of Bitcoin has been relatively stable, with a high in the morning followed by a pullback under pressure. Bitcoin peaked at around 106,482 before declining, as expected, providing a retracement opportunity, dropping to around 105,200; Ethereum also rose to 2,548 in the morning and then similarly declined, continuing the downward trend during the afternoon, and retracing to around 2,475. Recently, we have maintained a strategy focused on short positions combined with low long positions during retracements. Afternoon operations will still follow the high short and low long strategy.

The four-hour level shows a typical bearish pattern of three consecutive red candles. Key signals from the Bollinger Bands: the upper band has turned down, ending the previous upward momentum; the middle band has turned from rising to flat, indicating weakening momentum. The overall channel is narrowing, with the distance between the bands contracting. If the combination effectively breaks through the middle band, it may trigger technical selling pressure. The one-hour level shows a stepwise decline to the lower band of the Bollinger Bands before a bullish rebound; although it temporarily halts the bearish trend, it has not changed the overall pressure situation.

Bitcoin can be shorted in the range of 106,000-105,600, targeting around 104,000; Ethereum can be shorted in the range of 2,540-2,520, targeting around 2,420.