The latest cryptocurrency market analysis shows that Bitcoin (BTC) and Ethereum (ETH) are experiencing significant price fluctuations. Technical indicators reflect that the market is at a critical turning point.

From the perspective of the Bollinger Bands indicator, the opening of the channel at the hourly level has significantly widened, indicating that market volatility is increasing and the competition among traders is becoming more intense. It is worth noting that this afternoon the market briefly dipped to the lower band of the Bollinger Bands, but then experienced a rapid rebound, and the price is gradually approaching the middle band. This trend pattern suggests that although the market has experienced a brief decline, it has found effective support at the lower band of the Bollinger Bands, has escaped the weak range, and is initiating a corrective trend towards the middle band.

However, market participants need to remain vigilant. There will be an important speech at 8 PM tonight, which may trigger a strong market reaction. In this situation, prices may experience significant fluctuations, and investors should pay extra attention to potential risks and ensure that reasonable stop-loss positions are set to avoid holding positions blindly.

In terms of specific prices, the key support area for Bitcoin is currently around 114,000 to 114,500. If it can effectively break through, the next target price may look up to 117,000. At the same time, the important support level for Ethereum is in the range of 3,630 to 3,660, and after breaking through, it may advance towards the 3,750 level.

Overall, the current cryptocurrency market is at a critical technical position, and significant price fluctuations may occur in the short term. Investors should fully consider market risks, manage their positions wisely, and closely monitor market trends when making trading decisions.