The fluctuations of the K-line at $BTC resemble the twists and turns of life; sometimes a sudden drop catches you off guard, and sometimes a slow rise brings you unexpected joy. There’s no need to be overly concerned about momentary fluctuations; true composure lies in maintaining your core amidst the turbulence and clearly seeing the direction in a trend. After fluctuating around 121000, Bitcoin failed to stabilize and was ambushed by bears, resulting in a straight drop of over 3500 points, with a low reaching 117561 before undergoing wide fluctuations. Ethereum fell back around 4730, dropping to a low of 4452 before rebounding to 4702, but could not hold its ground, and the price has again retreated to the vicinity of 4520 for consolidation. In the afternoon, after the big Bitcoin strategy provided by Yunlu broke below 121000 and exited the small position, it subsequently provided a short position for students, successfully capturing nearly 2000 points in Bitcoin and over 160 points in Ethereum.
The technical analysis shows that the 4-hour K-line has broken below the middle track of the Bollinger Bands, with MACD showing a death cross and increasing volume. Short-term resistance is observed in the 119000-120000 range, while the key support below is at 117500. If this support is lost, it may drop to 115000. For Ethereum, the 4-hour moving averages have expanded the death cross, with short-term resistance at 4620-4650 and key support in the 4500-4450 area. If the key support level is touched and stabilizes, a short-term rebound can be speculated. It is crucial to closely monitor whether BTC can hold the 117500 level and ETH at 4500; if they continue to break down, it may open up greater downward space. Conversely, if Bitcoin strongly recovers to 121000 and Ethereum to 4730, caution is advised for the risk of trend reversal. Currently, the market is dominated by bears, and it is recommended to strictly control positions and manage risks.
Bitcoin suggestion: Short near 118200, target 116000-115500
Ethereum suggestion: Short near 4600-4580, target 4400
