Saturday Early Morning Market Analysis

Last night, Ethereum at 4393 and Bitcoin at 116750 reached new lows, with weak trends. In the 4-hour chart, Ethereum fell to the middle band of the Bollinger Bands after a large bearish candle, while Bitcoin reached the lower band. In the early morning, pay attention to whether Ethereum can break 4430 again.

Bitcoin's volatility is small; the lower edge of the 116000 range has not been broken, so do not count it as a breakdown yet. If it breaks, it will test 112000, and the short-term focus is on 116000. The daily line has broken below yesterday's low; there might be a rebound in the early morning, but the overall trend remains bearish, so it is only advisable to take short positions, and set proper stop losses.

Trading Suggestions

Bitcoin: Long at 116200 - 116800, target around 118000.

Ethereum: Long at 4380 - 4410, target around 4500.