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This morning, the Crypto Assets market exhibited a trend contrary to expectations. Bitcoin started to fall from a high of $120,600 in the early hours and is currently around $118,289. The market structure shows characteristics of range-bound fluctuations, with three consecutive Bearish lines being notable, but the long lower shadows of each Bearish line clearly suggest that there is still support below.
Currently, the short-term downtrend of Bitcoin is quite apparent. Investors are advised to remain cautious in the range of $118,900 to $118,400 and closely monitor the $117,000 level.
In terms of Ethereum, it is advisable to remain vigilant in the range of $4,230 to $4,200, with a focus on the performance at the $4,160 position.
Overall, the market may continue to face pressure in the short term. Investors should closely monitor market trends, manage risks appropriately, and adjust investment strategies in a timely manner. It is worth noting that the Crypto Assets market is highly volatile, and investors should act with caution and ensure proper risk management.
In the current market environment, it is particularly important to remain calm and rational. Investors should comprehensively consider multiple factors, including but not limited to macroeconomic conditions, changes in industry policies, technological developments, etc., in order to formulate a more comprehensive and long-term investment strategy.