The morning market has given a pullback as expected. In the new beginning of this week, BTC still shows a weak structure. After the morning close, it fell to around 107300 at its lowest point before stopping the decline, and then a secondary rebound recovered to around 108500 before falling back. After the morning close, Ethereum saw a slight decline in sync with BTC, but overall the pullback was not significant, still maintaining a strong structure. In our morning live operation, we set up a short order for BTC around 109000 in advance, and took half profit during the second pullback near 107500, leaving the rest in place. For Ether, we focused on stability this morning, only placing a short-term short order and did not set up too many short orders.

From the current market perspective, the daily closing line has a small shadow line indicating a certain upper shadow, and the Bollinger Bands are showing a downward structure. The moving average structure is currently also in a downward turning form. Referring to the previous resistance level, the strong resistance at the bottom is focused on the 105000 mark. Looking at the smaller timeframe, the four-hour chart shows that the K-line rebound touches the middle track of the four-hour line and falls back under pressure. The form is in a stepped downward structure, and the downward channel is already quite clear. However, over the weekend, the previous resistance near the 107300 bottom support was not broken. In the short term, attention needs to be paid to the gains and losses at the 107300 mark to further look down; otherwise, the bulls have certain opportunities for holding in the short term. The perspective from the larger timeframe remains unchanged, still cautiously bearish on Ethereum.

BTC can be shorted at 108000-108500, looking at around 105000. #btc#