The cryptocurrency price chart has broken through the previous high, but to surpass the previous high point of 109, which is a key resistance level we tested earlier. If it cannot be reclaimed, we will maintain our bearish outlook. On the four-hour chart, the market continues to maintain the previous slow oscillating upward pattern, with the price currently slowly oscillating upwards around 107000. On the hourly chart, the price rose consecutively but faced resistance at the 108 level, resulting in a corrective bearish candlestick. The long lower shadow indicates that the bulls still hold a significant advantage. While it broke through the 108 level, it could not stabilize above, so we will still maintain a bearish outlook for the future.
For Bitcoin, shorts were initiated at 108000, with attention on the vicinity of 106500. For Ethereum, shorts were initiated near 2440, with attention on the vicinity of 2340.
