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Today's Bitcoin market shows an interesting trend. Although it experienced a V-shaped Rebound during the day, successfully reversing the previous fall, this apparent long positions advantage may just be a flash in the pan. From the daily chart, although a small Bullish line has formed, it is still under pressure from the moving averages; overall, this appears more like a technical correction.
Analyzing the shorter-term hourly chart, we can observe that the price is alternating between bullish and bearish candlesticks. It is worth noting that there is considerable resistance around $118,500, which indicates that bearish forces are quietly accumulating.
For Bitcoin, we recommend paying attention to potential short positions in the range of $1,183-$1,188, with a target price that may drop to around $1,165-$1,150.
As for Ethereum, market participants can closely monitor potential short opportunities in the range of $3,790-$3,820, with an expected target price around $3,720-$3,670.
Overall, although there have been some positive signals in the market today, the overall trend remains unclear. Investors should exercise caution, closely monitor market movements, and manage risks effectively. In this uncertain market environment, it is especially important to stay calm and rational.