The midday market trend is consistent with our thoughts, moving lower, with a minimum dip to yesterday's low point around 106700 before stopping the fall, and currently rebounding to around 106900 for consolidation. As for Ethereum, due to the recovery in the early morning, it has also shown a weak trend in the afternoon, with a minimum dip to around 2450 before stopping the fall, and it remains in a low-level consolidation, showing momentum for further dips. In our live trading today, we set a short order around 107500 in the morning, which has also dipped to around 106700, taking half of the profit, while the rest continues to hold the position.

From the 4-hour chart, after the price effectively broke through the middle track of the Bollinger Bands, it is under expected pressure and currently maintains a weak oscillation in the lower track area of the Bollinger Bands. The current quote at 106700 has formed a key support level, which corresponds exactly to the bottom range of the previous consolidation, providing strong technical support. Observations on the chart show that although bulls intermittently launch counterattacks, the volume is obviously insufficient, and the overall market presents a weak trend, with bears still firmly in control. Both bulls and bears are engaged in a fierce tug-of-war at the current price level, and due to the lack of key fundamental drivers, the price continues to be trapped in a fluctuating range, making it difficult to form a unilateral trending market. However, the intraday movements and further downward shifts in the comparative range indicate signs of weak dips, so the approach should still maintain a downward outlook.
You can short the big cake between 107000-107300, looking at 106300 for the short term, and if it breaks, look around 105500. Short Ether at 2460-2480, looking at around 2400. #btc# #eth# #Gate Hits 30 Million Users#