$BTC Evening Bitcoin dropped from the 118600 fluctuation platform, consecutively losing the key supports of 118000 and 117500, with a low of 117332. Ethereum plummeted in sync, crashing from 3681 to 3579, now weakly rebounding to around 3600.
Technical analysis shows that Bitcoin's lower support at 117000 constitutes a psychological barrier, and if it loses this level, it may test the weekly support at 116200; the 3650-3680 area for Ethereum has turned into strong resistance, with the daily low of 3570 being the last line of defense. Indicators show clear bearish signals: Bitcoin's 1-hour MACD has a second death cross, and RSI has dropped to 35, near the oversold edge; Ethereum's 4-hour Bollinger Bands are widening, with the price breaking below the lower band.
Yunlu's evening long position strategy hit the stop loss and exited. The current adjustment suggestions are:
Bitcoin short position near 117800 with light volume (stop loss at 118200), target 116500.
Ethereum short position at the rebound to 3630 (stop loss at 3670), target 3550.
