The trend is undergoing a range-bound adjustment, without looking at reclaiming the breakout; can short in the medium term.

One should act according to one's ability, avoid following the crowd blindly, and take each step cautiously; this is the best rhythm for living in the present. Whether the bull market continues or is still brewing remains uncertain, but the pullback of the trend is already quite evident. All we can do is focus on the immediate situation. Although the market fluctuates daily, the trend's consolidation also provides multiple opportunities for short-term trading. However, as we all know, during such significant volatility, sometimes it only takes a few days to release the medium-term space from the past. It is clearly within reach, and missing it would be a great pity.

From a technical structure perspective, on the weekly K-line level, the price has rebounded and retraced, closing with a bearish candle. The bullish momentum is insufficient, leading to a consolidation phase. Although the downward space is not overwhelming, recovering the upward trend still requires a certain period of buildup. It is not important whether the bull run has started or not, but the pullback continues, and the downward space still needs further release. On the daily line level, the price is fluctuating upwards but encounters resistance and falls back. The bullish momentum is not being converted, maintaining a bearish shape. After a wide range-bound movement, it has remained in a weak downward trend. Currently, there are signs that the lower channel has opened up, and it only needs an opportunity. The moving averages have not formed an upward trend; instead, the bearish momentum's downward turning trend is more certain. It is not a bear market but a transition to a bearish trend retracement. Continuous support and downward probing without effective recovery means waiting for a bearish breakout.

We can approach the trend with a high position:
Afternoon pancake range: 113200-113500 short target focus on 111000 Ethereum range: 4220-4250 short target focus on 4100