The market is an unceasing arena of gladiators, and there is only one rule for survival — control yourself. Always keep 20% of your cards hidden, because a gambler who has lost everything has no tomorrow; learn to maintain a safe distance from the market, as over-watching will only erode your sanity; treat stop-losses as naturally as breathing, and the speed at which you admit mistakes determines how long you will survive. After a loss, the most dangerous thing is not the loss itself, but the impulse to seek revenge. Looking back at the early morning market, the price first experienced a strong upward surge, with last night's peak reaching the line of 119655, then pulling back to the current level around 118500. The short position we set up yesterday has also been slightly trapped with a space of over 500 points.
From the current trend, Bitcoin has shown a clear signal of stagnation after reaching the historical high of 119655. The technical indicators have formed multiple bearish resonances: divergence in volume and price, RSI overbought, and MACD top divergence all sending simultaneous warnings. Additionally, the price has accurately hit the strong resistance at the weekly level and the upper band of the monthly Bollinger Bands. After the current price broke below the key support of 118800, the 'Dark Cloud Cover' pattern suggests that a trend reversal is imminent. If the 118000 level is lost, it will open up a downward space to 116500 or even 115200.
Bitcoin strategy: Short near 118500, target 117000
Ethereum strategy: Short near 2960, target 2900
