Technical Analysis for May 18: BTC and ETH Hit Expected Dips, When Can We Buy the Dip?
Today’s market action really smashed down, with BTC diving right to the mid-level around 767, and ETH hitting the target near 2080. This recent dip in altcoins has been weak; if it keeps dropping like this, we might see altcoins break below 2000. Based on normal market behavior, we’re now watching to see if BTC holds this mid-level or continues to slide. Altcoins are currently in the 2000-2100 range, which is considered the target zone for drops.
This Week's Focus
We’re closely watching if BTC breaks below the 76 level, which is the current mid-level. If it continues to drop, our target range would be 72-70. If it stabilizes here over the next couple of days, we’re looking for a bounce back into the 79-80 range.
As for ETH, we’re checking if BTC breaks its mid-level. Normally, altcoins have already dropped to the trend line target of 2000-2100, which is our entry zone. Given the weakness of altcoins, we need to consider BTC’s movement.
Today’s market action really smashed down, with BTC diving right to the mid-level around 767, and ETH hitting the target near 2080. This recent dip in altcoins has been weak; if it keeps dropping like this, we might see altcoins break below 2000. Based on normal market behavior, we’re now watching to see if BTC holds this mid-level or continues to slide. Altcoins are currently in the 2000-2100 range, which is considered the target zone for drops.
This Week's Focus
We’re closely watching if BTC breaks below the 76 level, which is the current mid-level. If it continues to drop, our target range would be 72-70. If it stabilizes here over the next couple of days, we’re looking for a bounce back into the 79-80 range.
As for ETH, we’re checking if BTC breaks its mid-level. Normally, altcoins have already dropped to the trend line target of 2000-2100, which is our entry zone. Given the weakness of altcoins, we need to consider BTC’s movement.
