In the early morning hours, the price of Bitcoin showed a relatively stable trend, fluctuating slightly between $119,500 and $120,500, with no significant extreme changes.

From a daily perspective, today's K-line is about to form a small bullish candle with a long upper shadow, indicating that there is still strong selling pressure above. However, when observing at the hourly level, we can see that the price is showing a consolidation bottoming pattern around the $120,000 mark, with K-lines alternating between bullish and bearish patterns. The strength of the pullback is gradually weakening, and the bearish momentum is somewhat exhausted, making it difficult to push the price lower.

Technical analysis shows that there are still long opportunities in the current market. It is suggested that investors consider looking for entry points in the range of $119,000 to $119,500, with an upward target near $121,500.

At the same time, the Ethereum market is also showing a similar trend. Investors can pay attention to potential buying opportunities in the range of $2,960 to $2,980, with a target price set around $3,080.

It is important to note that the cryptocurrency market is highly volatile, and investors must operate cautiously and strictly control risks. This analysis is for reference only and does not constitute any investment advice.