After the downward movement of the market on Monday, I mentioned that it would first experience a range-bound fluctuation. However, yesterday afternoon I stated that we can no longer look at the range and should chase the market. In the evening, the market made a strong push downward again with higher trade volumes. It's another rhythm of over 3000 points, and after the higher trade volumes, it becomes a fluctuation structure. In the short term, some gains have also been made. This has always been emphasized, as the likelihood of a correction after a strong push is very high, which means range-bound fluctuations. Therefore, after the major rhythm is completed, we can observe the range, and after the range is completed, it indicates a buildup of strength before we look at a smaller single direction.

From an overall structural perspective, last week's weekly candle with an upper shadow indicates a weakening trend. This week, the weakening is relatively stronger, and there is already a bearish engulfing pattern forming. Therefore, it will continue to probe the support level at 107200 below. If it goes down again, the support will likely break. The previous level has been defended three times, and the fourth time will likely result in a break. Thus, the likelihood of a large range is relatively small, while the continuation of the weakening trend is increasing. Just follow the trend and watch for the continuation of the momentum.

Around 109600 to 109900, pay attention to around 106600. #btc #ETH