Last night, the US stocks opened 100 points lower, with almost no significant rebound. They continue to drag the market down.

Overall, it aligns with the previous bearish expectations for the US stock market at high levels. The decline was even a bit beyond expectations, and the strength of the bulls was underestimated.

The cryptocurrency sector opened significantly lower in pre-market trading, crashing suddenly.

The large pancake continues to follow the volume drop, breaking the long position defense liquidity after dropping below 895. The market framework has clearly shifted to a structural bearish structure.

There was a brief stop at 8w8, but it may not be the short-term endpoint.

From the changes in fees and positions, it is evident that the bottom-fishing sentiment remains very strong.

After a small panic, the bulls are not strong, and it is highly likely that the subsequent movements will maintain a weak oscillation.

In terms of price performance, after a smooth decline, having broken the previous low, it serves as a profit-taking position for shorts.

Some shorts may choose to take profits, with a short-term expectation of an oversold rebound. Therefore, it is not advisable to chase shorts at this position.

Waiting for a rebound opportunity after testing resistance on the pullback.

Upper resistance: 90500/92500/94400

Lower support: 88020/86600/85300

$ETH

ETH's decline is not obvious, merely that shorts have not continued to increase their volume. It is not strong bullish.

Plans to go long will only be reconsidered after testing around 2880.

Subsequent rebound pressure around 3080, if it fails to test, then look to short near this level.

Upper resistance: 3080/3196/3229
Lower support: 2908/2880/2781

$SOL

After breaking the key level around 128, the intraday rebound pullback could not hold.

After narrow fluctuations, it still follows the market's weakness.

The bulls have an oversold rebound together, so chasing shorts at this position does not have a good risk-reward ratio.

Waiting for the rebound pullback pressure around 133-135 before ambushing the shorts.

Upper resistance: 135/138/141

Lower support: 121/117

#sol#eth#btc