BTC/ETH Intraday Market Analysis: Good News Materializes, Which is Bad News

Bitcoin's market yesterday showed an overall sideways consolidation pattern, with the $110,000 level consistently failing to hold. From the four-hour K-line perspective, this price level has formed a clear characteristic of a phase top, and a technical correction has become inevitable.

The current correction range is relatively limited, and attention should be focused on the first support zone of $106,000-$107,000. If this support level is effectively breached, the downward space will open further, potentially testing or even breaking the psychological level of $100,000, and investors need to remain vigilant.

Regarding Ethereum, after breaking through the key level at midnight yesterday, the daily K-line finally closed with a long upper shadow bearish candlestick at 8 AM, marking the official end of this round of corrective rally.

Considering that Bitcoin has entered a high position correction phase, Ethereum is likely to start a follow-down mode. Investors need to be reminded not to be blindly optimistic due to short-term rebounds, as many bullish voices have disappeared today; similarly, bears should not be overly excited due to slight intraday corrections.

Currently, Ethereum is focusing on the support zone of $2,660-$2,700, and if the key level of $2,660 is lost, the price may return to the $2,400-$2,500 range for consolidation.

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