Technical Analysis:

Bitcoin (BTC) shows a clear descending channel on the 1-hour timeframe, currently rebounding to the upper boundary of the channel around 118800, facing resistance. The key support below is at 117500; if this level is lost, the price may accelerate downward to 116800.

Ethereum (ETH) continues a stair-step decline on the 4-hour timeframe, with the area of 4580-4650 forming resistance, and 4450 being the core level for bulls and bears to contest.

Risk points to be aware of: If BTC breaks above 119500 or ETH stabilizes above 4650, it may trigger short covering, at which point timely strategy adjustments will be necessary. The current market is still dominated by bears, but after a short-term oversold condition, there is a technical correction demand. It is advisable to manage positions carefully and pay attention to the impact of key economic data on the market in the evening.

Operation Strategy (mainly short on rallies):

- Bitcoin: Consider light shorting in the range of 118600-118800, with a target of 117500-117000.

- Ethereum: When rebounding to the range of 4570-4600 and facing resistance, set up short positions with a target of 4450-4400. #ETH突破4600