From the recent four-hour technical chart, the market clearly shows a downward trend. The continuous bearish belt hold pattern, accompanied by full bodies and extremely short lower wicks, clearly demonstrates the current dominance of short positions, with evident strengthening of market dumping sentiment. The BOLL indicator shows a downward expansion trend, indicating that market fluctuation is increasing, and bearish momentum is still being released. The downward trend may continue to be maintained in the short term.

It is important to note that in terms of technical indicators, the KDJ indicator has entered the oversold region, which somewhat suggests that there may be a technical rebound demand in the market. However, considering the overall bearish atmosphere in the current market, the oversold signal alone is not sufficient to determine a trend reversal. Investors should closely monitor whether the KDJ indicator can form a golden cross signal, as well as whether the price can break through key resistance levels, as this will be an important basis for determining whether the downward trend has ended.

Nightly analysis shows that Bitcoin faces pressure in the range of 107500-108000, with a potential target area below possibly reaching 106500-106000. It is recommended to set a risk control point at 109000; Ethereum is under pressure in the range of 2730-2750, with support targets below around 2710-2690. Consider setting a risk control at 2770. Market participants should remain vigilant and manage position risks appropriately.