1.6 Monday Afternoon Strategy and Analysis:

The large pancake (Bitcoin) rebounded to around 99300 in the morning and then began to decline in a stepped manner. Although the decline is small, a slow descent is fundamental and determines the final direction. Currently, it has been in a continuous consolidation for three days, with small K-line bodies, maintaining a range of contraction and fluctuation between 97000 and 99000. The range compression is small, essentially indicating a tug-of-war market. This week, we are still looking at a downward pressure trend below the 990000-1000000 area, and the fluctuation rhythm and range are basically in line with expectations.

On the 4-hour chart, there have been multiple upward tests near the upper range of 99000, and this week may continue to test upwards and break through to reach around the 100000 mark. However, based on recent trends and the overall market situation, we still maintain the basic judgment of shorting at the upper range and looking at the lower range.

The bearish trend remains unchanged; short-term operations will still be dominated by a fluctuating market. The Bollinger Bands contraction state is the best operational range, looking to short at the upper range and eyeing the lower range. Currently, there are slight signs of opening in the Bollinger Bands. From a structural perspective, after touching the lower band yesterday, it immediately rebounded, making the sustainability of short-term price retracement a concern, but there will still be a slight rebound first. Considering the above, the afternoon operation can focus on shorting during rebounds, as the tug-of-war fluctuating market still offers good space for both long and short positions. The entry points are particularly important, following the old strategy of Yushi Pan.

Monday Afternoon Operation Suggestions:

Large pancake (Bitcoin): Short around 99300—99000, target 97000

Auntie (Ethereum): Short around 3685—3670, target 3580