0108: Yesterday, US stocks softened and retreated 15 minutes after the opening. Bitcoin at one point reached a 5% retracement. Lao Song made a good move with short positions during the day. The long position entered too early at the US stock market opening directly resulted in losses, while the follow-up short position after breaking support made some recovery.

Based on the current trend, it is easy to see a significant wave C pullback on the daily chart, especially after seven consecutive days of bullish candles followed by a sharp pullback. In the evening, after Bitcoin broke the 97300 level, no further operations were conducted. This level is considered strong resistance, and there was no hesitation here, dropping directly to 97000.

Yesterday, ETF outflows amounted to 544 million USD. Specific data will be reviewed after repair. During the day, rebound levels to pay attention to are 97300-98300, with a strategy of shorting after the rebound. For Ethereum, 3720 has established an insurmountable barrier, with a pullback close to 400 points yesterday, the decline at one point was about 8.30%. Every time Ethereum bounces higher, it falls harder, and the pullback is nearing the bottom of the previous trading range. Short positions should be taken during rebounds.

Short near 97500-97800, add positions at 98300 with a target of 95300; if broken, look at 93500.

Short at 3410-3450 with a target of 3320; if broken, look at 3270.