The market fluctuation in the early morning is not large, as BTC retraced to around 110700 and stopped falling, leading to a rebound. Currently, the price has recovered to around 111500 and is oscillating without showing further long positions counterattack. Regarding Ethereum, it has once again retraced to around 4280 and stopped falling, currently also showing some long order higher trade volumes, but in terms of trend, it still leans towards weakness. In the early morning live stream, I provided a short-term perspective, and currently, Ethereum long orders have also yielded a profit of over 40 points before exiting.

From the daily chart of BTC, after the lower shadow line tested the upward trend line, it encountered resistance. Currently, it is still converging within a triangular range, and in the short term, it leans towards a fluctuating structure. Yesterday, it recovered the high point but faced secondary pressure around 113500. The future market can still maintain a downward trend within the range. From the four-hour chart, the Bollinger Bands are in a flat structure, and the short-term upward structure has not further continued. After the substantial fall of the large bearish candle below the upward trend line yesterday, it is crucial to see if the market can achieve a secondary rebound and substantially recover to return to the upward trend line; otherwise, the market is still in a bearish tone. The overall strategy remains to view rebounds as opportunities to short. In the future market, the focus will be on tomorrow evening's CPI movement, which will provide a chance to distinguish the strength of long and short positions.

BTC can be shorted at 112000-112500, watch near 110500. Ethereum can be shorted at 4330-4350, watch near 4250. #btc#