$BTC Regardless of how the market in the cryptocurrency space changes, as long as we hold onto our dreams, maintain firm beliefs, and keep a positive mindset, we will definitely be able to reap our own wealth and success in this challenging field. Bitcoin shows a downward trend, with the price falling from a high of 119561 to a low of 117387 in the evening, currently consolidating in the range of 117500-118000. Ethereum is moving in a synchronized manner, with the price completing an N-shaped oscillation structure of 3588-3671-3530, currently touching the middle support of the daily Bollinger Bands at the low of 3530. During the day, the bullish and bearish outlook provided by Yunlu gives Bitcoin a space of 6003 points and Ethereum a space of 363 points.
The technical side shows that 117000-117500 is a key support zone, with the 4-hour chart forming a descending wedge pattern. The MACD indicator is flattening below the zero axis, with a shortening green momentum bar, indicating weakened downward momentum. Ethereum’s 1-hour RSI shows a bottom divergence, with an increase in open interest accompanying the price drop, indicating a possible bearish trap. Caution is advised for increased volatility risk during the US trading session. The market is overall in the eve of a trend change, with Bitcoin and Ethereum both showing characteristics of key position oscillation. It is recommended to use a "breakout follow + range oscillation" composite strategy. Focus on the support strength of Bitcoin at 117000 and Ethereum at 3500, as the CME gap of 116500-117000 at 8 AM tomorrow may become a catalyst for fluctuations.
Bitcoin recommendation: Lightly buy near 117300 (stop loss at 116700), increase holdings if it breaks 118200; if 119000 is not broken, consider going short (stop loss at 119500). Focus on the support strength at 117000; a break may lead to a drop to 115000.
Ethereum recommendation: Buy around 3550 (stop loss at 3500), look for 3800-3850 after breaking 3650.
