Thursday Early Morning Analysis

The main cryptocurrency surged past 120000 in the morning but faced pressure, reaching a high of 120257, then declined in the afternoon, with a low of 117000 in the evening; the second cryptocurrency surged to 3762 from midnight to morning before pulling back, hitting a low of 3552, with bullish momentum weakening and a short-term bearish outlook.

Four-hour Chart: After breaking through the middle track, there was a significant drop, with MACD showing a dead cross in the negative zone.

One-hour Chart: Following two consecutive bullish candles, there was a significant bearish pullback, with the Bollinger Bands opening downwards, the middle track shifting down, and moving averages indicating a bearish trend; the bearish candle has an upper shadow, with support at the lower track, showing a slight rebound, but bears remain dominant.

Trading Suggestions

Main Cryptocurrency: Short in the range of 118500—119000, target 116500.

Second Cryptocurrency: Short in the range of 3620—3640, target 3500#btc70k .