Market Analysis - Bitcoin is currently experiencing a downward trend in the daily chart, with a potential rebound near previous lows [1] - A break below the previous low, followed by a quick recovery, could present a buying opportunity, while a sustained break could signal a shorting opportunity [1] - A potential rebound might target the $120,000 level, coinciding with a 0.66%-0.68% retracement level and a price vacuum, before potentially continuing the downward trend [1] - Ethereum is showing a clearer upward trend after retesting the 4,100 level and rebounding, with potential for a 1-2-3 breakout pattern [1] - A potential target for Ethereum is 4,878.35%, with traders advised to consider stop-loss strategies and monitor for a breakout of the descending trendline [1] Trading Strategies - For Bitcoin, traders should monitor smaller timeframes for a potential breakout of the descending trendline, which could signal a buying opportunity following a 1-2-3 pattern [1] - A confirmed break below the recent low for Bitcoin would trigger a shorting opportunity, especially if the price fails to quickly recover [1] - For Ethereum, aggressive traders might consider a long position after a false break below previous lows, while more conservative traders should wait for a descending trendline breakout and a 1-2-3 pattern confirmation [1] Risk Management - Traders should be aware of potential "Wyckoff distribution" patterns, where repeated stop-loss hunting without sustained price increases could indicate institutional selling [1] - The analysis emphasizes the importance of setting clear stop-loss levels based on previous lows or trendline breaks to manage risk [1] - The potential for altcoins to rally alongside Ethereum is noted, but it's also mentioned that this often occurs near the end of market cycles [1]