Good evening everyone. Recently, the market has been relatively stable, with BTC and ETH moving in sync. Let’s briefly review the key levels on the current chart.

From the overall trend, on the daily chart, prices surged to test previous resistance levels and then started to pull back. However, both the momentum of the decline and the depth of the correction have not reached the expected strength.

On the technical side, the price comparison has shown signs of completing a bottom-top reversal. The early morning strategy emphasizing a trend-following short position remains valid. However, special attention should be paid to whether the resistance level can be effectively broken—if the pattern is broken, stop loss should be executed immediately. On the hourly chart, after a brief consolidation, a series of downward candles have formed, showing good continuation. The key going forward is to observe how far the extension can go after support and resistance levels are broken.

The current strategy is straightforward—around the morning resistance level, consider short positions on rallies.

**BTC Trend**: Focus on shorting within the 89,500-90,000 range, with the lower target around 87,000-87,500. This price zone is an important defense line for the bulls. If it is effectively broken, there could be considerable downside space.

**ETH Trend**: Consider short entries around 3030-3060, with targets at 2940 and the round number 2900. Recently, ETH has been closely following BTC’s rhythm. The key is to watch for the joint breakdown of these two assets.

In the background, the progress of the Federal Reserve’s repurchase agreement plan has had some impact on market sentiment, and volatility in risk assets may increase. Maintain caution in the short term and manage risk exposure carefully.