The Bitcoin daily chart closed with a bearish candle, once again forming a false breakouts pattern. Before the major structure's horizontal resistance is broken, every rebound is a bull trap. In the short term, during the night, it is expected to pull back. The first touch of the bulls and bears watershed has not broken; the long positions will have fluctuations here. Today, focus on the resistance level of 108600; if the rebound does not break it, it will directly continue to pull back. Alternatively, if it breaks through, it may test the high points of 110000-112000 again before pulling back. If the level of 106500 is broken, it will turn bearish, with the target for the next pullback at 103000-104000.

Ethereum's short-term key resistance at 2620 must be broken to establish independent conditions. In today's morning session, pay attention to the resistance level at 2560; if the rebound does not break this level, it will continue to pull back. If it stands above 2560, it will retest the 2620 high point pressure before pulling back again. The lower bound at 2480 is a watershed for long and short positions; once it breaks, it will turn bearish, with the target for future pullbacks at 2380/2320.

Operating Strategy
Bitcoin continues to experience false breakouts at high levels, with each bullish candle being followed by a bearish candle, indicating that selling pressure still exists at these high levels. It cannot be ruled out that the main force may be trying to induce long positions. Personally, I prefer to wait for a pullback support to enter on the left side or to wait for a horizontal resistance to form a reversal before entering on the right side. Currently, the price is oscillating within a narrow range, so I suggest observing more and doing less. It is expected that a direction will be given today.