The market is like the sea, with rises and falls like tides. The true winners understand: bear markets are the season for sowing, while bull markets are the time for harvesting. When others panic sell in the waterfall, you see a value dip; when the market is in a frenzy, your calmness is the most valuable asset. Profits and losses are merely scenery on the path of cultivation, and what truly matters is the continuously evolving understanding and mindset. Remember, a crash cannot shatter real value; it only cleanses the restless speculation. This morning, the coin price started to halt and retrace after rising to 120,000, as bears took control of the market. A strong downward plunge caused the coin price to drop, hitting a low of around 118,500, with nearly 1,500 points of space in this plunge. Ethereum differs slightly from Bitcoin, as Ethereum first welcomed a wave of bullish testing, rising to around 3,765 before halting and retracing. It is currently back to around 3,718.

The technical aspect shows clear top pressure: the 4-hour chart has a long upper shadow with increased volume, the MACD indicator shows a top divergence, and the 1-hour EMA5 has crossed below EMA10, forming a death cross. Currently, the key support level to watch is 118,000; if breached, it will test the critical support of the 50-day moving average at 117,200. The upper level of 120,000 has turned into a strong resistance zone. Ethereum failed to effectively break through the previous high of 3,778, retreating to around 3,718 after being blocked at 3,765. The 4-hour RSI has shown a top divergence and is turning down; if it falls below the 3,700 level in the short term, it may accelerate to test the support band of 3,650-3,680. Notably, the ETH/BTC exchange rate continues to face pressure.

Bitcoin strategy: Short near 119,200, target 117,500.

Ethereum strategy: Short near 3,735, target 3,655.