The price of Bitcoin has dropped quite sharply this time, continuously declining and directly filling the gap at 92000. During this process, there was hardly any noticeable resistance, breaking through the 90000 mark, with the lowest point reaching 89253 before finally rebounding. To be honest, this smooth drop was somewhat beyond expectations; although it only fell 3000 points more than anticipated, the judgment of future trends needs to be reassessed!
Previously, we discussed a possibility where Bitcoin could stabilize after the drop and build a base, then surge up to the next high point below 126000, or even reach a new high to lure in buyers before entering a bear market. Now it seems this scenario is likely to fail—key support levels are being breached one after another, and there hasn't even been a decent rebound; the entire structure has upgraded from a choppy decline to an accelerated drop. Now there are pressure levels everywhere, and the rebound space is severely constrained!
Currently, the market is in a rebound cycle, and it is estimated to move in a "up-down-up" three-part format. The first target is to look at 93840, which is the lower boundary pressure of the previous small platform breach; if it can break through, the next hurdle is at the upper edge of the 96300 platform; further up, the area around 101000 is a heavy pressure zone. Ethereum is indeed performing well, stabilizing around 2900, and its trend is clearly stronger than Bitcoin's, this strong state should continue for some time. If a rebound is to be made, Ethereum is definitely the first choice. The pressure levels to watch are 3130 first, then 3210 after a breakout, and to really open up space, it needs to surge to 3580.
In this market, one must be cautious in operations, not to be greedy or get carried away. The market is known to punish various forms of defiance, so we need to maintain a sense of reverence. Remember this saying: "As long as the green mountains remain, one need not worry about firewood!" $ETH
Previously, we discussed a possibility where Bitcoin could stabilize after the drop and build a base, then surge up to the next high point below 126000, or even reach a new high to lure in buyers before entering a bear market. Now it seems this scenario is likely to fail—key support levels are being breached one after another, and there hasn't even been a decent rebound; the entire structure has upgraded from a choppy decline to an accelerated drop. Now there are pressure levels everywhere, and the rebound space is severely constrained!
Currently, the market is in a rebound cycle, and it is estimated to move in a "up-down-up" three-part format. The first target is to look at 93840, which is the lower boundary pressure of the previous small platform breach; if it can break through, the next hurdle is at the upper edge of the 96300 platform; further up, the area around 101000 is a heavy pressure zone. Ethereum is indeed performing well, stabilizing around 2900, and its trend is clearly stronger than Bitcoin's, this strong state should continue for some time. If a rebound is to be made, Ethereum is definitely the first choice. The pressure levels to watch are 3130 first, then 3210 after a breakout, and to really open up space, it needs to surge to 3580.
In this market, one must be cautious in operations, not to be greedy or get carried away. The market is known to punish various forms of defiance, so we need to maintain a sense of reverence. Remember this saying: "As long as the green mountains remain, one need not worry about firewood!" $ETH
