In the afternoon, the market rebounded near 105300 but faced resistance, and continued to fluctuate downwards, persistently probing lower. In the evening, the bearish volume continued, retracting the intraday upward space. As of now, Bitcoin has pulled back to around 103500, while Ethereum has broken below the 3900 line. In the early part of the day, after the bulls broke the high and sustained the bullish trend, I have been reminding everyone to watch for a pullback. The market's continued surge still requires consolidation. The last lesson given to the bulls at the 100,000 mark was already significant; haven’t we learned from it? With history as a reference, keeping up with the rhythm makes it easy to profit. In the afternoon, I set up a short position near the high of Bitcoin at 105300, and in the evening, I exited with a profit of over 1300 points, while Ethereum entered a short position in sync with Bitcoin, exiting with a profit of 60 points.

From the afternoon to the current point, we have pulled back nearly 2000 points, returning to the midnight pressure level, treating it with the mindset of top-bottom conversion. The area around 103500 serves as short-term support, and the evening pullback has not been overly constrained by the current support. On the daily chart, the pattern shows a small bearish candle retracing; looking at the four-hour chart, the midline still serves as bottom support. If the indicator line corrects and presents a dead cross, we will continue to focus on the four-hour midline around 102300 in the evening. After the market pulls back, we can turn around and continue to look for bulls to recover and challenge new highs. Considering the timing, with the Fed's interest rate cut approaching, if we break the high in advance, there will certainly be some space for a pullback in the short term. Here, we will primarily focus on the pullback. Additionally, pay attention to the evening opening of the US stock market to drive the market, and set appropriate stop-loss levels to avoid the continuation of the bullish trend.

Bitcoin can short in the range of 104000-1045000, with a target near 102300. Ethereum can short in the range of 3920-3950, with a target around 3930.