From the daily chart perspective, after the previous volatility, Bitcoin's fluctuation range is gradually narrowing, and it has overall entered a consolidation phase. After a sharp drop on the 25th of this month, although there was a rebound for two consecutive days, it failed to break through the previous high resistance. On the hourly chart, the candlestick pattern shows a clear trend of rising and then falling back, with significant selling pressure at the key level of 112600. The bullish momentum in the short term continues to weaken, and the moving average system has shown signs of turning downwards and forming a death cross technical signal. The core idea remains the same: continue to maintain a bearish outlook.
For Bitcoin, keep an eye on the levels around 111800 and 112300, with a target looking towards 110300. If it breaks below, we can further look at 109500.
For Ethereum, pay attention to the levels around 4520 and 4560 for short positions, with the downside targets remaining unchanged at 4440 and 4350; we will discuss further if it breaks below these levels.
