Bitcoin has dipped below $118,000, putting pressure on the bullish structure that’s held for the past two weeks.
The attempted breakout above $121,000 has failed, and price is now breaking down through the middle of the consolidation range, threatening short-term higher lows. On the 4H chart, this move resembles a failed breakout with a potential double-top near $121,000.
If Bitcoin can’t reclaim $116,000 quickly, the next downside levels to watch are $114,000 and $110,000.
Ethereum, meanwhile, has stalled just below $3,800 after a strong rally this month. Price action has flattened out over the past few days, with several failed attempts to push through that level. The key upside trigger remains $4,000.
But if $3,700 gives way, ETH may slide back to the $3,450-$3,300 region, where previous resistance and the rising trendline converge.
