On Friday morning, BTC continued to dip following the drop in the early hours, smashing through several key support levels in an unstoppable manner, hitting a low of around 114600. This sharp decline can be regarded as a hardcore stress test of the 115000 level. Although it did not result in an actual breakout, it still startled the market. Fortunately, the afternoon saw a pause in the momentum, leading to a breather and a rebound. As of now, the opening price of the US stock market is fluctuating within a narrow range around 115500, with both bulls and bears caught in a brief range-bound situation.

From the current market perspective, the daily line shows that the early session has been continuously bearish with increasing volume, and the market once retraced and broke below the mid-track support. The current downward movement of the large bearish candle still has not recovered the mid-track further, indicating that overall buying strength is still insufficient. In the four-hour chart, after a period of range-bound consolidation, the overall market has seen continuous breakdown of the bottom support. Currently, the Bollinger Bands show signs of widening, and the K-line is now operating near the lower band. Tonight, the key focus will be whether the intraday retracement of the bottom will continue to break down.

BTC can be shorted at 116000-116500, looking down to around 114500, and if it breaks, continue to pay attention to around 113000. Ether can be shorted at 3700-3730, looking at around 3600. #BTC#