$BTC and $ETH both slipping right now. BTC trading at 83806 after tapping a 24h high near 86699 and sliding down to a low around 83577. ETH sitting at 2599 after a high of 2725 and a low of 2591.
Both charts show the same story. Price broke below the moving averages hard and RSI dropped into oversold territory on the short timeframe, BTC RSI6 near 16 and ETH RSI6 near 15. That kind of reading often means the selling pressure is stretched and a short term bounce becomes more likely but it does not guarantee one. Oversold can also stay oversold if sellers keep pushing.
Key levels to watch For BTC the 83577 low is the line in the sand, a bounce needs to hold above that to look credible with 84333 and 85942 as the next resistance steps up. For ETH 2591 is the equivalent floor with 2612 and 2684 as resistance on the way back up.
So will they bounce. The setup favors a short relief move if buyers step in near these lows but neither chart shows a confirmed reversal yet, just stretched downside momentum. Worth watching the next few candles closely.
Not financial advice just reading the chart. What's your opinion bounce or breakdown?
#BTC #ETH #predictons
Both charts show the same story. Price broke below the moving averages hard and RSI dropped into oversold territory on the short timeframe, BTC RSI6 near 16 and ETH RSI6 near 15. That kind of reading often means the selling pressure is stretched and a short term bounce becomes more likely but it does not guarantee one. Oversold can also stay oversold if sellers keep pushing.
Key levels to watch For BTC the 83577 low is the line in the sand, a bounce needs to hold above that to look credible with 84333 and 85942 as the next resistance steps up. For ETH 2591 is the equivalent floor with 2612 and 2684 as resistance on the way back up.
So will they bounce. The setup favors a short relief move if buyers step in near these lows but neither chart shows a confirmed reversal yet, just stretched downside momentum. Worth watching the next few candles closely.
Not financial advice just reading the chart. What's your opinion bounce or breakdown?
#BTC #ETH #predictons