$BTC The morning price comparison shows a unilateral downward trend, retreating from the high point of 120320 and hitting a low point around 118380 for consolidation. Ethereum is also weakening, falling from a high of 3765 to 3687, completely giving back the gains made earlier this morning. Currently, an obvious resistance zone has formed in the 3730-3750 area, and 3680 is the dividing line between bulls and bears for the day. The Yunlu team has accurately grasped the current downward trend, with Bitcoin shorts at 120300 making a profit of 1348 points, and Ethereum shorts at 3740 earning over 40 points.
The technical analysis shows that Bitcoin encounters strong resistance at 119800 on the 4-hour chart, while the key support level is at 118000. If this level is lost, there could be a further drop to the weekly support at 117000. In terms of indicators, Bitcoin's 4-hour MACD has formed a high position death cross, and the RSI has quickly fallen from the overbought zone; for Ethereum, the Bollinger Bands on the 1-hour chart are widening, indicating increased downward momentum. Special attention should be paid to the movements of US stocks and large on-chain transfers, as current market sentiment has turned bearish, and it is advised to strictly control position risk.
Bitcoin suggestion: Short near 119000 (stop loss at 119600), target 117500—117000
Ethereum suggestion: Consider establishing short positions near 3720 (stop loss at 3750), target 3620-3650
Every deep squat in the market is a buildup for the next jump. Those pullbacks that keep you awake at night are precisely the touchstones that test your faith. True value investors are not afraid of declines, but understand that a bear market is a wealth redistributor, while a bull market is merely the stage for cashing out.
