$BTC The fluctuations of the K-line in the cryptocurrency market are like the tides of life, with ups and downs. Don't rush to leave during the low points; perhaps the next bullish candle hides the light you persevered for. Bitcoin showed a one-sided downward trend in the early morning, falling from around the 12000 level to a low point of 118069, with a drop of 2000 points, releasing strong bearish momentum. It has currently rebounded to around 118900 for consolidation. Ethereum also weakened, descending from a high of 4365 to a low of 4190, and then rebounding to around 4230 for consolidation.

From a technical perspective, attention should be paid to whether 118900 can hold. If it continues to face pressure, it may further test the support at the 118000 integer level. If the rebound breaks through the short-term resistance near 119500, it may alleviate bearish sentiment. The current key support level is 118000, with resistance in the range of 119500-120000. Ethereum is overall following the market's weak trend, with limited rebound strength, indicating that bears dominate the short-term rhythm. The key support level is the recent low of 4190, with resistance in the range of 4300-4365 (previous highs and the starting point of the downward movement). In summary, both major cryptocurrencies are suppressed by bears in the short term. Although Bitcoin's drop has released some selling pressure, the rebound strength is insufficient, and caution should be exercised regarding the risk of further declines after consolidation. Bears should monitor whether the support level can be effectively broken to confirm the continuation of the trend.

Bitcoin suggestion: Buy near 118500 with a target of 120000

Ethereum suggestion: Buy near 4200-4210 with a target of 4280-4300 #比特币市值超越亚马逊