Daily level, after a midnight surge meeting resistance, it retraced to the middle band of the Bollinger Bands, with a large bearish candle appearing, and the middle band becoming a key resistance point. The four-hour chart shows four consecutive bearish candles, with the middle and lower bands exerting downward pressure; MACD shows a top divergence, with a golden cross of the two lines breaking downward afterward, and the solid bearish candle below the zero line indicating a resurgence of bears. The hourly chart has consecutive bearish candles, continuing to break lower.
117000 is an important support and turning point; if the retracement does not effectively extend, bulls may be expected to recover, and subsequent pullbacks can be viewed as buying opportunities, with this point being the defense focus.
Friday midnight trading suggestion: Buy in the range of 117700-117400 for Bitcoin, target 119500.
Buy in the range of 4540-4510 for Ethereum, target 4700.
