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The BTC experienced a slight pullback overnight before continuing its downward trend, with the low point retracing to around 117300, and then entering a fluctuating upward mode again, peaking at around 119500. From the daily chart perspective, the BTC shows an alternating pattern of rise and fall. Although the Bollinger Bands channel remains open upwards, the consecutive high points of the pullbacks are gradually declining, indicating a lack of upward momentum in the short term and a strong demand for pullbacks. If the price breaks below the support level, the market will likely enter a new downward trend. Ether is moving in sync with BTC, and relatively speaking, the bullish sentiment is a bit stronger at the moment.
Currently, the pressure for BTC is at the 120,000 level, with support at the 115,000 level; Ether has pressure at 4,000, with support at the 3,500 level.