7-24 Early morning BTC-ETH

BTC surged in the morning, breaking through the 120,000 mark, reaching a high of 120,257 before facing resistance and retreating. In the afternoon, it started to decline, with the lowest point dropping to 117,000 in the evening; ETH, on the other hand, rose to 3,762 from midnight to the morning, then experienced a pullback, touching a low of 3,552. Overall, bullish momentum has weakened, leaning towards bearish in the short term.

From a technical perspective on the four-hour chart: After breaking through the middle track, a large bearish plunge occurred, and the MACD formed a death cross and is operating in the negative zone.
One-hour chart: After two consecutive bullish candles, a large bearish pullback has occurred. The Bollinger Bands are opening downwards, with the middle band moving down in sync, and the moving averages showing a bearish arrangement. The current bearish candle has a shadow, and there is some support at the lower band, resulting in a slight rebound; however, the overall trend is still dominated by bears.

BTC 118600—119200 range, watch 116500.
ETH 3620—3650 range, looking at 3500.