To be honest, the morning opening did not see much volatility. It reached a certain low of 26473, then rebounded to 26686, entering a small-scale oscillation. The evolving rhythm is basically within the range expected by Xu Bin's plan, without much highlights, but also very indecisive and unsettling.

As for the 4-hour chart, there was a sharp oscillating decline, with multiple previous attempts to break through the 27498 level being met with resistance and retracement, forming a step-by-step downward trend, breaking the lower range but not closing too low. Yesterday's probing rebound formed a doji candle, still within the range, making the short-term outlook uncertain. Continuity is a problem. It may present a oscillating tug-of-war style decline, meaning a large downside and upside potential. In the European session, pay attention to the resistance near 26800. Failure to break through will lead to another weak decline. On the other hand, breaking above will indicate an oscillating decline. First rebound to seek a stronger resistance before being pressured to fall back. The overall 4-hour structure is still in a downward trend, just testing entry points more with short-term detours.

BTC short-term: Short at 26800, target 26350, break below 25800 (Ethereum trend is close to synchronous)

BCH short-term: Short at 210-209, target 206, break below 201

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