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The pancake slightly pulled back to the 116300 line yesterday morning, and then welcomed a strong rebound. The high point reached the 117900 line before facing pressure and falling back, currently oscillating above 116500. The trend has broken the oscillation range. Despite the current pullback, the overall sentiment is clearly strong. This indicates that the current decline is more likely a normal correction of the rise.
Ethereum is relatively strong, having stabilized and started its upward journey after breaking through the 4100 line, with the high rising to the 4332 line. Continuous bullish candles have broken through the upper Bollinger Band, establishing a primary bullish wave, and the bullish trend is stable and strong. There is hope for a push towards the 4500 high.
Currently, Bitcoin's resistance is at the 120,000 level, and support is at the 115,000 level; Ethereum's resistance has moved up to the 4,500 level, and short-term support has moved up to the 4,000 level.