From the daily chart, after a large bearish candle formed on August 14, the price of Bitcoin has retraced from the high level of 124500 to the current price of around 118200, showing a clear pattern of a sharp decline.

On the hourly chart, recent K-line fluctuations have been quite intense, overall in a downward trend, with the lows gradually rising but the rebound strength limited. The MACD has been continuously operating below the zero line, and after the negative value of the histogram expanded, it began to contract, indicating that the bearish strength has weakened, but there is still no clear bullish signal.

The daily trading volume significantly increased on August 14 (27485), corresponding to the sharp decline, indicating that market sentiment has intensified in panic.

The hourly trading volume sharply decreased during the 6:00 time period, only 310, indicating that the market is in a wait-and-see mood, lacking further momentum in the short term.

Ethereum operating suggestion: Buy on a pullback near 4500-4510, with a stop loss of 50 points, aiming for 4600-4610, if it breaks, look towards 4650-4670, if it doesn't break, consider shorting, looking at the area around 4420-4450.