Only the darkest night can see the brightest star, and only the steepest slope can stand on the highest peak. With that spirit of 'I must try it,' push forward, and you will find that the so-called limits are just meant to be broken. The market on Wednesday has also come to an end, with Bitcoin experiencing a spike in the morning, breaking through the 120,000 mark and then facing pressure to stop. During the day, the Bitcoin price reached a high of 120,257 before bullish sentiment eased, while bearish sentiment gradually tested the waters. After the spike, the Bitcoin price has been on a downward trend in the afternoon, even dropping to a low of 117,000 in the evening. Ethereum saw a slight increase from midnight to the morning, reaching 3,762 before retracting under pressure. The day's low was 3,552, significantly digesting the previous bullish strength.

From the four-hour perspective, after experiencing fluctuations around the middle band of the Bollinger Bands, the market successfully broke through the middle band resistance, forming a significant downward movement. Current bearish momentum continues to release, with the MACD indicator's fast and slow lines forming a dead cross, and the values have fallen into the negative range, indicating an overall trend dominated by bears. Looking at the one-hour level, after two consecutive bullish candles, there was a significant bearish drop, with the Bollinger Bands opening downward and the middle band moving downward simultaneously, with all moving average indicators showing characteristics favoring bears. However, the bearish candlestick has a certain lower shadow, indicating that there is support at the lower band of the Bollinger Bands in the short term, and the market has shown a slight rebound. Overall, the midnight operation suggests focusing on selling at rebound highs. On Thursday morning, we will participate around selling at high points.

Bitcoin: Short at 118,600-119,000 with a target of 116,500

Ethereum: Short near 3,630 with a target of 3500#BNB创新高