$BTC, 12 hours down, once it breaks below 94400, the outlook will be bearish across the board. It will at least need to touch the 92400-92900 range. It might even plunge to around 90800. Once it effectively breaks below 90800, the downside space will instantly expand. At that point, we'll see where it can go. This is the behavior that could consecutively occur once the price breaks below 94400.

In the next two days, at most until tomorrow, if it doesn't fall but instead rises, not asking for much, just break 97400 and continue to look bullish. At that time, buying on dips would give a psychological bottom.

Thus, the upper and lower limits are 97400 and 94400, respectively.

Now let's talk about the hourly price action.

As mentioned, as long as it hasn't broken 97400, the outlook is bearish. Therefore, following this thinking, the cost-performance ratio of short positions is relatively higher than that of long positions, especially after such behavior occurs (see Chart 1).

For this reason, today's core idea is to find a good place to set short positions while ensuring stop-loss, and wait for the price to continue to decline.

Additionally, I checked the exchange rate of $eth to $btc, and there is a potential downward turn for $eth (see Chart 2).

However, it is not very clear and hasn't broken key levels, so if it does go down, $eth might not necessarily drop as much. The bullish sentiment for $eth is stronger than that for $btc, which is also related to the current flow of funds.

But, that said, if $eth shows signs of reversing, especially a significant drop, then it will be coming to get you. People outside will be extremely happy.

However, in the same downward direction, the volatility of $eth is definitely greater than that of $btc, regardless of whether it goes up or down. Therefore, when trading contracts, prioritize $eth.

For $eth, there is a potential top structure, but the strength is not high; the top is relatively small and weak, in other words, the decline is limited (see Chart 3).

Currently, the nearest strong support is 3530, and once it effectively breaks below, it could potentially plummet to around 3360.

Now looking at the hourly level for $eth, it is oscillating downwards, with weak oscillation and signs of another drop (see Chart 4).

What to do? Short it. Here, it is important to note that the price will not drop continuously and directly through key support levels; at this stage, we still need to guard against a bullish rebound. Therefore, shorting must include a stop-loss.