From the daily level, the 120,000 mark has turned from support to short-term resistance. The MACD red bars have just begun to appear, and the KDJ has formed a dead cross at a high level, indicating a weakening of bullish momentum. If the 120,000-121,500 range cannot be quickly reclaimed, it may further test the 119,000-118,000 support zone, or even test the strong support area at 115,000. Ethereum followed Bitcoin to rise to 4,335 before rapidly falling, dropping to around 4,200 in the evening, with a decline of over 130 points, completely engulfing the morning's rebound. The 4-hour K-line has formed a 'dark cloud cover' pattern, and has broken below the short-term support of 4,250. The RSI has fallen back from the overbought zone, and the short-term trend has turned bearish. If the 4,200 mark is lost, it may test the 4,150-4,100 area, or even retest the key support level of 4,000-4,050.

Bitcoin Strategy: Short near 121,000-121,500, target 119,000.

Ethereum Strategy: Short near 4,230-4,250, target 4,150.