Good morning 🌤️ Looking at the charts this morning, BTC is still struggling to break upward. In 12 hours, the price is rejecting at the lower band of Bollinger with RSI at 40.8. The levels I see are: resistances at 77,570, 80,670, 82,500 and supports at 59,900, 65,810. This seems like a typical dead cat bounce in a bearish market.

On the daily chart, the trading range is between 65,810-71,670. My reading is that it’s advisable to position oneself by selling within this range to catch two medium-term profit targets.

With Ethereum doing something similar: consolidating within Bollinger in 12 hours, RSI at 40.7. Resistances at 2,009, 2,138 and supports at 1,825, 1,907. I also see a downward bounce movement, oscillating between 1,851-2,009. The strategy is similar: medium-term sales to capture two TP.

Market data now: BTC dominates with 56.96% of the market, the fear and greed index is at 13 (extreme fear), and the ETH/BTC ratio is at 0.02908.

The interesting thing is that last night’s non-farm data was positive, but in a bearish market like this, the US stock market dragged everything down. With the weekend approaching, we need to stay alert for any geopolitical news that could move the markets. Remember that historically, Bitcoin’s price in 2009 was almost zero, and look where we are now. That puts current corrections into perspective 📊