The fluctuations of the candlestick resemble the ups and downs of life; sometimes a sudden drop catches you off guard, and sometimes a slow rise brings unexpected joy. There's no need to be overly anxious about momentary fluctuations. True calmness lies in maintaining one’s heart during volatility and seeing the direction clearly in trends. After oscillating around 121000 in the evening, Bitcoin failed to stabilize and was hit by a bearish attack, causing the price to drop sharply by over 3500 points, reaching a low of 117561 before undergoing wide fluctuations. Ethereum fell back around 4730, dropped to a low of 4452, then rebounded to 4702, but failed to hold. Currently, the price has retreated again to around 4520. In the afternoon, after the Bitcoin bullish idea given by Yunlu broke below 121000, the students were advised to short, successfully capturing nearly 2000 points of space in Bitcoin and over 160 points in Ethereum.
The technical indicators show that the 4-hour candlestick has broken below the middle Bollinger band, with the MACD showing a death cross and expanding. The short-term resistance is focused on the range of 119000-120000, with key support at 117500. If this level is lost, it may dip to 115000. For Ethereum, the 4-hour moving average death cross is widening, with short-term resistance at 4620-4650 and key support in the 4500-4450 range. If it touches the key support level and stabilizes, a short-term rebound can be anticipated. It is crucial to monitor whether BTC can hold the 117500 level and ETH the 4500 mark. If they continue to break down, it may open up greater downward space. Conversely, if Bitcoin strongly recovers to 121000, Ethereum at 4730 should be wary of the risk of trend reversal. Currently, the market is dominated by bears, so it is advisable to strictly control positions and manage risks.
Bitcoin suggestion: Short target near 118200 at 116000-115500
Ethereum suggestion: Short target near 4600-4580 at 4400
