From the mid-term structure perspective, both $BTC and $ETH are entering a critical consolidation phase. $ETH has been fluctuating in the 4260–4345 range recently, resembling a 4th wave sideways move after an upward trend. As long as the 4260 support holds, there’s still a chance to test 4400–4460 in the short term. However, if it breaks below, the downside space will open up, increasing the likelihood of a pullback to 4000–4100. $BTC is similarly oscillating within the 110.6k–112.4k range, with the structure leaning toward platform consolidation. If it can break through and stabilize above 113.2k–113.8k, the trend may extend to 118k or even 123k. Conversely, if 110.6k is breached, caution is needed for a potential drop to the 107k–109k area. Overall, both are at the edge of their respective ranges, and the trend direction will soon be confirmed. A breakout signals entry into the 5th wave acceleration, while a breakdown indicates the start of a renewed correction. Before the range is broken, it’s more suitable to adopt a light position strategy—buying low or selling high. The real opportunities lie in the confirmation of the direction.