There is no eternal decline, nor an unchanging trend,


Bitcoin sharply dips to the bottom, support holds steady, the final release of the bears has finished, the current low-level fluctuation is the best opportunity for long positions to be laid out, do not fear short-term declines, do not worry about market shakeouts.
In the early morning, Bitcoin surged to above 79,455, then experienced a deep retracement with a large bearish candle falling to around 76,400 at the low, today’s market entered a narrow correction after being oversold, holding the key support at 76,400, the rebound strength is weak, only reaching a high of 77,132, the morning overall is a weak sideways consolidation after a sharp decline.
Ethereum followed Bitcoin, rising from 2268 to 2309 earlier, then encountered heavy selling by the main force, quickly falling back and breaking all short-term supports, also entering an oversold weak correction in the morning, with a weaker rebound than Bitcoin and stronger resistance.
The market quickly tested the bottom in the morning, completing a deep shakeout, Bitcoin’s lowest touched 76,400 and quickly recovered, the intraday lower shadow confirms short-term support is effective, panic selling has been fully released, bearish momentum has greatly diminished.
The 4-hour KDJ has entered the oversold zone and is about to turn upward with a golden cross, MACD bearish momentum continues to shrink, the lower band of the Bollinger Bands provides strong support, the price has stabilized at a low level, completing a sideways bottoming process, the rebound window after oversold conditions has opened.
The downside space is now extremely limited, it’s a stage where prices cannot fall further, do not chase shorts, do not panic, gradually lay out long positions at low levels, aim to profit from wave rebounds, manage risk in line with the trend, and steadily secure profits.
Bitcoin: 76,100 bullish, target: 78,000
Ethereum: 2,230 bullish, target: 2,390
BTC-2.46%
ETH-1.88%
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