Continuing the high-level fluctuation correction pattern from last week, the overall situation presents a wide range of consolidation. Currently, the Bull vs Bear Battle is intense, with no strong unilateral market emerging, and both sides have considerable operational space. However, it is important to be vigilant, as the seemingly active market actually hides risks, and a slight misstep may lead to a passive position. At present, the Bitcoin consolidation range is between 106000 - 109000, while the Ethereum fluctuation range is between 2370 - 2530.

From the daily perspective, both Bitcoin and Ethereum are in a narrow consolidation phase, with limited overall fluctuation space, presenting a contractive oscillation pattern. The 4-hour chart shows that the oscillation range continues to narrow, and the market direction is yet to be determined. Among them, Bitcoin at 107000 serves as a key midpoint; if it effectively breaks down, the space below may open up. There is strong resistance near the upper trendline; although the opening price is close to the trendline, the rebound momentum is insufficient, and horizontal trading may instead strengthen resistance. It is expected that the short-term market will continue to exhibit wide fluctuations and repeated tug-of-war, with a low probability of a unidirectional upward trend in the short term, and this oscillation pattern may even persist until the monthly close. Based on the current market trend, it is recommended to focus on short positions.

Open short positions for Bitcoin in the range of 107500-108000, targeting 106800.
- Ethereum: Short in the 2500-2520 range, target price looking at 2400.