8.1 Thought Analysis

The four-hour chart shows that the Bollinger Bands are gradually widening, with the market forming four consecutive bearish candles and successfully breaking below the lower Bollinger Band, indicating that the bearish forces are in absolute dominance.

Although the 116,000 level below provides some psychological support, given the current strong momentum, any rebound is likely to be limited in strength. Therefore, we still maintain a high momentum strategy in the morning.

Operation Suggestions
The pancake rebounded to around 1160-1165 for a short position, target.
around 1150
Short near 3740-3770 for Ethereum, target around 3650.
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