Bitcoin, Ethereum recent market trend analysis

Recently, almost all assets worldwide are accelerating their decline. Gold has now fallen below 4200, nearly erasing the gains of the past six months. Bitcoin, Ethereum, are also teetering, giving the feeling that a big drop could happen at any moment. I hope my feeling is wrong.

Returning to Bitcoin, from the weekly chart, medium- and long-term positions are very rare. Whether it's a long or short setup, there will be brief periods of huge unrealized gains, but the market quickly reverses, and the previously leading unrealized gains turn into losses, then into massive unrealized losses. The difference between these swings can easily affect one’s mentality. So, if you experience this situation, you should stop. Currently, Bitcoin's intraday support is around 67,300, with major support below in the 64,000 to 65,000 range. This round of Bitcoin could also fall to around 61,000, or even break below. Once market sentiment becomes extremely panicked, support will not hold, and institutions will be pressured to sell selectively. Be mentally prepared for Bitcoin to break below 60,000. This decline has seen no significant rebounds, so this downward move may not be over yet. For long-term holders, your safety zone is best below 59,000; otherwise, it’s very risky.

Returning to Ethereum, its trend is weaker than Bitcoin. Ethereum’s stability has always been unpredictable, so I prefer trading Bitcoin. Support below Ethereum is around 1920, with further support at 1820. Currently, Ethereum is supported around 2020, forming a bottom in the 15-minute chart. Resistance above is near 2090 and 2120. Understanding resistance and support means that when the price reaches a suitable level, you decide whether to buy or sell. When your sell volume greatly exceeds your buy volume, resistance exists; the opposite is also true.

Continuous stop-losses are signals that you should stop; if you cannot strictly follow your trading system, it’s very dangerous!
$BTC ‌$ETH ‌#