The intraday market is nearing its end, with today's trading showing a general trend of stability followed by a rise and then a sharp decline. During the day session, the market maintained a narrow range of fluctuations, with the price fluctuating around the 104500 level. In the afternoon, the market suddenly surged, quickly breaking through the 105000 barrier, reaching a high of 106486, forming a short-term peak, and then underwent horizontal consolidation until the evening when the market experienced violent fluctuations, causing the price to rapidly drop back, currently hitting a low of 102255. Overall, the day's trend exhibited a 'rise - peak - decline' roller coaster rhythm. Both long and short positions were actively traded in the market, with the evening short positions being particularly prominent, entering at 105920 and exiting at 103948, securing a profit of 1972 points. The strategy was made public and transparent in advance, with timely strategies emphasizing flexibility and adaptability as the essence of trading.

From the current trend, after the big rise to the 106486 level, several small upward candles failed to sustain the gains, followed by a rapid drop accompanied by increased volume, with several large bearish candles erasing previous gains, dropping to a low of 102255, which is a typical pattern of a volume-driven sell-off. Overall, a strong resistance has formed around 106000, and after failing to break through the upward attempts, a large bearish candle emerged, creating a standard structure of 'failed peak + engulfing'. The current candlestick has a slightly long lower shadow, indicating short-term signs of a bottoming out, but the rebound potential is limited, and market sentiment has not yet recovered, with short-term risks of further declines still present. This is currently a 'weak rebound phase after a decline', and one should avoid blindly entering long positions. It is recommended to maintain a bearish outlook in the short term.

Short positions on the big pancake at 103800-104200, targeting around 102000. Short positions on Ethereum at 2400-2460, targeting around 2350.