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The price of Bitcoin has started to show signs of weakness after reaching a high of $117,266. Although there are still minor fluctuations, the upward momentum has noticeably weakened. Currently, the price of Bitcoin is hovering around $117,059, facing significant resistance at $117,266.
Considering the current market sentiment and recent trends, analysts expect Bitcoin to possibly experience a pullback in the short term. They suggest that investors may consider adopting a short strategy in the range of $117,000 to $117,300, while setting a stop-loss point at $117,500. If the downward trend is established, the price may dip to $115,500, or even $114,800.
On the Ethereum front, analysts are similarly cautious. They suggest considering short positions in the range of $4,800 to $4,830, with $4,850 as the stop-loss level. If the decline continues, the price of Ethereum may drop to $4,700, or even $4,600.
It is worth noting that these predictions are based on current market conditions, and investors should closely monitor market changes and adjust their strategies in a timely manner. The cryptocurrency market is highly volatile, and investors should fully assess the risks before making any decisions.