Bitcoin encountered a sudden pullback yesterday, with a single-day fall exceeding 4000 points, forming a bearish belt hold on the daily candlestick with a shadow line equal in length to the body. The market is currently in a technical rebound at the hourly level, but the trend line above continues to slope downwards.

From a technical analysis perspective, the current market needs to pay special attention to several key resistance levels: the middle band of the daily Bollinger Bands, the middle band of the 4-hour chart, and the upper band of the hourly chart. If the bulls want to regain control, they must break through these technical resistance levels. In the current market environment, various news factors frequently influence market trends, and the operational strategy suggests focusing on shorting at high levels. It is worth noting that Bitcoin has previously tested the previous high near 110,000 multiple times but has failed to break through effectively. This price structure indicates that the market may need a further pullback to attract more spot buying.

Specific operation reference: The main resistance levels for Bitcoin are in the 105800 and 106800 areas. You may consider placing short positions when it rebounds to this range, with target prices below being 104500, 103500, and 102500.

In terms of Ethereum, the upper resistance level is concentrated in the range of 2550 to 2600, which can be used for high short operations, while the lower target prices are 2500, 2450, and 2400.

The above analysis only represents personal market views, and investors should make cautious decisions based on their own risk tolerance. The current cryptocurrency market is highly volatile, and it is recommended to closely monitor changes in various technical indicators as well as breakthroughs at key support and resistance levels.