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$ETH Afternoon Analysis: Midday market depth retracement, Bitcoin warmed up after a low of 107817, and Ethereum stopped falling after touching 3836.
The four-hour level shows a bearish engulfing pattern gradually declining, with a tug of war in the short-term range. The main funds are consolidating, short-term bears are slowing down, but market confidence has not yet recovered.
On Thursday afternoon, it is recommended to short on the rebound:
Bitcoin: Short at 111700-112200, target 108000
Short at 3970-4000, target 3850.