Affected by the overnight closing of the US stock market, the cryptocurrency market is under pressure in the early session. Bitcoin's price quickly dipped to 108,000 to test support, briefly stabilized before entering a consolidation mode, forming a typical range-bound pattern. After a rebound to 2,880 the previous night, Ethereum encountered strong resistance, and following a fierce battle between bulls and bears in the early hours, the price began to pull back, hitting a low of 2,740 before falling into sideways consolidation. From the current market structure, bullish momentum has clearly weakened, and bearish forces are quietly accumulating, facing a potential trend reversal overall.

On the daily chart, Bitcoin closed with a bearish candle, giving back previous gains, not only retesting key support levels but also confirming strong resistance at the 80,000 mark during the probing process, which suggests that the current consolidation may likely be a signal of bearish accumulation. The pullback after the rise is not a normal adjustment but rather reveals hidden risks of insufficient follow-up bullish momentum. Currently, the price is in a high-level range, which is actually a precursor to an impending bearish move, with a high probability of continuing the downward trend on the daily chart. On the four-hour chart, two consecutive doji candlesticks are hovering around the middle Bollinger band, and beneath the seeming consolidation, there are clear cracks in the upward channel. Combined with the weak rebound after testing the key integer level on the daily chart, the bearish trend is beginning to emerge. The main focus is on whether the support below is strong; if it breaks down, the space below will open up.

It is recommended to set up short positions around 108,000-108,500 for Bitcoin, targeting 106,500; for Ethereum, consider shorting on highs within the 2,740-2,760 range, with a target below at 2,620. Note that the volatility during the Asian session is relatively small, but as bearish forces gradually release, the downward space during the day is worth anticipating. It is advised to strictly set stop-loss orders to control risk.