Morning consolidation with both bulls and bears lacking strength. Currently, the price ratio has slightly rebounded. The short position has seized the opportunity to layout accordingly and is still present in the market. The rhythm of the market is completely in line with our previous predictions, and the bearish volume has slightly increased. This operation fully demonstrates that the existence of pullbacks is necessary. Ethereum is synchronously progressing, and the short volume has increased, operating around 2392. As long as we strictly execute according to the principles and avoid chasing highs and cutting losses, while not entering blindly, true strength lies within the rhythm.

From the current trend, yesterday’s daily line closed with a medium to large bullish candle. Although the rebound strength is strong, the high point did not break through the mid-track resistance and failed to stabilize above the previous high. Overall, at a large scale, it still belongs to a corrective rebound nature and has not changed the oscillation pattern. At present, the price ratio has once again faced resistance after reaching the previous high point area, and the K-line has gradually turned bearish, indicating a short-term need for a pullback correction. On the four-hour level, the price ratio rebounded from around 98000 to 106000, forming a complete V-shaped rebound structure with sufficient wave space released. Currently, after the price ratio pulls back, it has weakened again, and we need to pay close attention to whether the 106500 line can be effectively broken. If it breaks above, it is expected to further open up a rebound space to 110000; if it meets resistance again, it means the market is still in a retracement channel, and the short-term rhythm should still focus on shorting in line with the trend.

Bitcoin short at 105000-105500, target down to around 103000; Ethereum short at 2400-2430, short-term target 2300. Overall, maintain the strategy framework of 'breaking upwards to go long, pressured to go short', keep up with the rhythm, control the positions, and the real trading will naturally be smooth.