The cryptocurrency market experienced significant volatility today. The price of Ethereum touched a low of $3353 in the morning, which, from a more macro perspective, could represent the bottom of the first falling phase in an important price cycle. Meanwhile, Bitcoin also retraced to $111850, precisely hitting the breakout point of the previous major cycle.

This market behavior has triggered several noteworthy observations: First, the current downward trend may be coming to an end. If another wave of decline occurs after a rebound, it is likely to signal the formation of a cyclical bottom. Second, investors should be cautious about adding short positions during a sharp decline. A sudden drop is often the market's last shakeout, which may indicate that bulls are about to take over the market.

In terms of short-term operations, one can consider a strategy of shorting at high positions and going long at low positions, but it is necessary to pay attention to risk control. Currently, Bitcoin's trading range is expected to be between 107000 and 116000 dollars, while Ethereum's trading range may fluctuate between 2900 and 3500 dollars.

In this market environment, investors need to remain calm, closely monitor market movements, and develop appropriate trading strategies based on their own risk tolerance. At the same time, it is also important to be aware of the high volatility of the cryptocurrency market, making risk management crucial.