Let's take another look at the overall market trend.
Bitcoin showed a high exploration and a pullback yesterday, slightly probing up to 120820 before being pressured again, followed by a decline. Observing the daily chart, although a Fan rebound occurred yesterday, subsequent supply was insufficient, and the trend has not stabilized upward. Pay attention to whether the weekend can sustain the Fan rebound and break through yesterday's high pressure; if not, a period of oscillation and consolidation is expected to continue.
Ethereum moved in sync with Bitcoin, retreating after reaching the 3670 line, stopping the decline at the 3476 line. The four-hour chart shows a consecutive four-candle downtrend, having broken through the middle Bollinger Band, but the speed of decline has slowed after the breakout. Bearish momentum is gradually dissipating, with no strong continuation signals for further decline.
Currently, Bitcoin's resistance is at the 125000 line, with short-term support at the 115000 line; Ethereum's resistance is at the 3800 line, with support at the 3300 line.
