[Crypto market analysis]

1. Market performance the day before yesterday

The price of Bitcoin has shown significant fluctuations, with a low point reaching $103,500 and a high climbing to $105,550, creating a fluctuation space of $2,050. The intraday volatility is about 1.94%, with an overall trend of rising first and then falling.

Ethereum's performance during the same period showed a low of $2465 and a high of $2547, with a fluctuation range of $82 and an amplitude of 3.23%, continuing to exhibit characteristics of a downward trend.

2. Current Trend Technical Analysis

Bitcoin is currently priced at 104700 USD and has entered an hourly correction phase.
- Key support area: $103,000 - $103,500 (no clear bottom signals have emerged yet)
- Technical indicators show: On the 4-hour chart, the price is operating at the middle-lower band of the Bollinger Bands, with the 5-day moving average and the 10-day moving average forming a death cross, indicating that adjustment pressure has significantly increased; the daily chart shows that the triangular consolidation structure is still ongoing, with $104,000 forming a short-term support line. If this level is broken, it may drop to the $100,000 round number.
- Upper resistance levels: $106,000, $108,400
- Support levels below: $103,000, $100,000

Ethereum is currently priced at 2516 USD. Although there is a short-term correction, the key support has not yet been broken.
- Technical analysis: The 30-day moving average on the daily chart is flat, the MACD indicator is above the zero line but downward momentum is strengthening, and a top divergence signal has already appeared; the price has retraced to the support level of $2450 and is still operating within the range of $2400-$2800, the hourly chart shows that a right shoulder formation may be forming, which typically indicates the possibility of further pullback.
- Upper resistance levels: $2600, $2800
- Support levels below: $2465, $2450, and $2400

3. Market Situation Summary

Both Bitcoin and Ethereum have shown signs of pressure and pullback after reaching highs, with the daily volatility narrowing, indicating a clearer short-term adjustment trend. Investors should pay close attention to the effectiveness of the Bitcoin support level at $103,000, as well as whether Ethereum can stabilize around $2,450. Currently, market sentiment is relatively stable, but under the dominance of short-term funds, price fluctuations may further intensify. It is recommended to closely observe whether there are signals of range breakout.