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The Bitcoin market has recently shown a significant downward trend, with its price once touching a low near 98100 USD. From the daily chart, Bitcoin has formed a typical M-head pattern, which is often seen as a potential bearish signal. The neckline of this pattern is approximately at 102500 USD, and if the price cannot break through this key level, it may further fall to around 95000 USD. However, if Bitcoin can stabilize at 102500 USD and break through 105000 USD, the market may shift back to a rising trend.
At the same time, the Ethereum market is facing similar downward pressure. Recently, the price of Ethereum has plummeted, touching a low of around 2110 USD. The daily chart shows that Ethereum has broken below the key support level of 2400 USD. Currently, the 2300-2350 USD range has become an important resistance area. If the price cannot break through this range, it may continue to fall to around 2000 USD. To regain upward momentum, Ethereum needs to stabilize above 2400 USD again.
It is worth noting that the cryptocurrency market has always been highly volatile, and investors should act cautiously, closely monitor market trends, and make informed investment decisions based on their own risk tolerance. In addition, changes in market sentiment and the global economic situation can also significantly impact cryptocurrency prices, so it is equally important to stay aware of macroeconomic trends.