BTC 120000 level tug-of-war, can ETH break through the 4380 level? A market turning point may be approaching!

BTC Today's Analysis

Currently, BTC is oscillating within the 120000-116000 range.

Key resistance level: 120000——If it breaks and stabilizes, it will restart the upward trend, and in the short term, it is expected to challenge 122000-123300.

Key support level: 117500——If it breaks down, it will continue to probe 116000.

It is worth noting that the recent surge in BTC is mainly due to the strong rise of ETH, which also indicates that BTC itself lacks momentum. 123300 may become the top of this round (assuming ETH does not break the recent highs again).

ETH Today's Analysis

ETH is currently oscillating at a high level, with the daily line having failed to break through 4380 four times in a row. I had previously reminded:

To challenge higher positions, it is essential to effectively break through and stabilize above 4380 to have a chance to approach historical highs or even set new historical highs.

If 4380 continues to be under pressure, pay attention to 4160 below; if it breaks, it will extend downward to 4000.

Overall Pattern

The market focus is on ETH4380-4400 as the key point.

Breakthrough and stabilization: ETH will continue to lead the rise, driving BTC and altcoins to catch up.

Under pressure and falling back: If it breaks below 4000, the entire market will enter a downward channel.

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