From the 4-hour time frame analysis, Bitcoin's price showed a significant pullback after reaching the high point of 110600, with the bears dominating, leading the price to continuously decline and touch the low point of 102614. Subsequently, the market entered a range of 103500 to 106500, displaying a fluctuating pattern, with the candlestick formation showing an alternating state, indicating a relative balance of bullish and bearish forces in the short term. After the price broke below the middle band of the Bollinger Bands, the original support level turned into a resistance level, guiding the price to continue moving towards the lower band of the Bollinger Bands.

The current price is operating in the lower band area of the Bollinger Bands, which are showing a trend of convergence followed by expansion, indicating that market volatility may increase; the MACD technical indicator maintains a death cross pattern, but the red energy bars show signs of contraction and indicate the possibility of an upward reversal, suggesting that while there is a rebound possibility in the bearish trend, the momentum for a short-term transition between bulls and bears is insufficient, and the upward space is limited. It is necessary to pay close attention to the effectiveness of the resistance range of 106000-106500.

Overall analysis shows that although the market has attempted a short-term rebound, the overall trend is still under the control of the bearish trend. Next, we need to closely monitor the performance of the support at the 103500 lower band. If the price continues to break down below the lower band, the bearish trend may continue; conversely, if it can hold steady at this level and break through the middle band, the bulls may have a chance for a rebound.

Based on technical analysis, Bitcoin can be considered for shorting in the 105700-106000 range, with a target focusing on the 103800-103500 support level; Ethereum can be considered for shorting opportunities near 2560-2570, with a target focusing on the 2450-2430 support level. The above analysis is for market reference only, and actual operations should be combined with individual risk tolerance.