The decline continues. Bitcoin is now down to around 63,200, and Ethereum to around 1,727. The break below the support level near 65,000 marks the start of the market’s darkest hour. There’s no visible floor below at this point. The next possible bottom levels to mention are Bitcoin’s July low of 57,700 and Ethereum’s June low of 1,503.

Xiao Ha won’t be talking about buying the dip anymore—the market is done for. Any rebound is a chance to short. Support has now turned into resistance, with short-entry levels around 65,300 for Bitcoin and 1,820 for Ethereum.