Bitcoin did not break below the previous retracement low of 103300 last night. Drawing a trend line from the low retracement on the 4-hour level, since the high of 112000 fell back to around 100300, each time the price surged and then retraced, the lows have not been broken, so do not overly bearish. First, the retracement is at 100300, then a rebound at 110600 followed by a retracement at 102600, then a rebound at 108900, retracement at 103300, last night the lowest retracement was 103400 which stopped the decline and started a rebound. Although everyone hopes for a crash to buy back at lower levels, the market did not crash.

Today, key attention needs to be on the resistance at 107500. If it breaks here, it means the correction is over, and the market will continue to test the 110000 level, even sprinting for new highs. If it breaks down below 103000, then the rebound ends, and it is likely to test the previous low of 100300, or even drop below 100000. Currently, it is forming a triangular convergence pattern, with the highs moving lower and the lows moving higher, so we need to see which side the market will break!

The current price is around 105000. Today, one can try to set up short positions around 106000 and 107500, with retracement targets looking at 105000-104000-103000. Breaking below 103000 would signify a major drop, looking towards 100500, and if it breaks further, it can continue to look down to 95000.

For long positions, one can consider setting up around 103300 and 102500, with targets looking up at 104500-105500-107500.

Ethereum is still in a box range fluctuation, with upper pressure at 2680 and 2730, and lower support at 2450 and 2400. It has been fluctuating within this range for a long time. For short-term operations today, pay attention to the upper pressure at 2550 and 2590, where short positions can be entered, with targets looking down at 2500-2450-2400.

For long positions, one should set up around 2450 and 2400, with targets looking up at 2500-2550-2600.

This is a personal opinion and for reference only! #鲍威尔发言