Even though the big cake went down and got smashed at 75,000, what I care about today is this: after the drop, will anyone keep selling further?
At around the early-morning low of 74,968, the lows of the next two full 4-hour candlesticks were lifted to 75,141 and 75,458, and it hasn’t broken the bottom again for now. That’s why I started paying attention to a rebound, though the highs are also still trending lower, so it’s not strong enough to call a reversal yet.
For the big cake, first look at 76,246. If the 4-hour closes up and then a pullback holds, then I’ll consider taking this rebound. After that, I’ll watch 77,343. If 74,968 breaks again, then I’ll set that idea aside.
Ethereum is similar. After that long lower-wick candle at 2,359, it didn’t make new lows afterward, but 2,419 is still holding pressure. If 2,419 is reclaimed and the pullback holds without breaking, then first look at 2,449. The upside is limited, so it’s not worth chasing a buy.
All the support levels from yesterday have already been broken. Today, we need to look again for signs of stopping the decline—so don’t keep calling for longs using yesterday’s old levels. $BTC $ETH
At around the early-morning low of 74,968, the lows of the next two full 4-hour candlesticks were lifted to 75,141 and 75,458, and it hasn’t broken the bottom again for now. That’s why I started paying attention to a rebound, though the highs are also still trending lower, so it’s not strong enough to call a reversal yet.
For the big cake, first look at 76,246. If the 4-hour closes up and then a pullback holds, then I’ll consider taking this rebound. After that, I’ll watch 77,343. If 74,968 breaks again, then I’ll set that idea aside.
Ethereum is similar. After that long lower-wick candle at 2,359, it didn’t make new lows afterward, but 2,419 is still holding pressure. If 2,419 is reclaimed and the pullback holds without breaking, then first look at 2,449. The upside is limited, so it’s not worth chasing a buy.
All the support levels from yesterday have already been broken. Today, we need to look again for signs of stopping the decline—so don’t keep calling for longs using yesterday’s old levels. $BTC $ETH
