After weeks of continuous fluctuations, we finally broke the recent low and approached 93,000 yesterday, only to have it pulled back up in the early hours of the morning.

Fortunately, our blog post last night provided a short position at 95,600, which successfully yielded over 2,000 points; Ethereum's short at 2,690 perfectly reached the target near 2,600.

The daily chart closed with a doji star, indicating a trend of price decline; the high and low points on the four-hour chart are also moving downwards. However, if the support at 94,000 cannot be effectively broken, a breakout pattern cannot form, so we can only treat the current situation as a consolidation.

We cannot wait for 98,000-99,000 to short like last week. If we test the bottom near 93,000 and then rebound above 98,000, we should be cautious of a bullish counterattack breaking upwards.

So today, we will continue to short in the 96,000-96,500 range, currently tentatively set at 94,000; we will consider whether to participate in a long position based on the support situation at 94,000!

As for Ethereum, Monday's surge was ultimately just a flash in the pan, reflecting the fact that it is nearly impossible to establish an independent trend without Bitcoin rising. It can catch up, but it cannot rise independently.

After a pullback near 2,600 this morning, we welcomed a rebound of over a hundred points. However, the current structure is still within a large box range of 2,550-2,850. Even if the rebound is strong or the drop is severe, the pattern will not break unless the range is breached, so we should be cautious about continuation.

The short-term resistance is at 2,730, which is also yesterday's turning point. For today, we will first short around the 2,720-2,730 area, looking down towards 2,650-2,600!

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