Last night's market felt a bit like a roller coaster, with prices fluctuating downward all the way, reaching a low of 117388 in the early morning. After that, the bulls held their breath and tried to push up, but unfortunately, they lacked strength and couldn't create any big waves. Now the price has slightly warmed up, hovering around 118300, feeling like it's catching its breath.

Looking at the 4-hour chart, the price is still trapped in a downward channel, with bears clearly holding the upper hand. The candlesticks have been continuously closing in the red, dropping quite sharply, especially that big bearish candlestick, which directly broke through the key support level. Although there are occasional rebounds, they are all weak and haven't even climbed back to the mid-line. The support below is around 117300, and if it breaks further, it is likely to slide towards the lower Bollinger Band. The resistance above is quite strong, with the previous high of 119812 acting like a wall, making it difficult to break through in the short term.

Currently, the market is still dominated by bears, and it feels like it still needs to grind down a bit more. However, if 117300 can hold, there might be a small rebound, but the overall trend is still bearish, so keep an eye on the key levels and don't be complacent.

Trading advice:

Bitcoin: Consider shorting in the range of 118800-119300, targeting around 116500.

Ethereum: You can try a short position near 3840, with a focus on the support at 3700.

(The market is constantly changing, so it's advisable to keep an eye on real-time quotes and be cautious when placing orders!)#巨鲸动向