Bitcoin has fallen for two consecutive days, and today at noon at 12:00, it again formed a bearish candle that engulfs a bullish candle. The subsequent 30-minute moving averages have been suppressing the price downward. The long lower shadow at 3:00 PM also failed to stop the decline. The bears are boiling the frog slowly; there is a high likelihood of a waterfall decline tonight. The daily support level is at 74,200, which means there is still about 2,000 points of downside space. Do not blindly go long!


Upper resistance levels: 76,600, 77,400
You can take partial profits at support levels when shorting to lock in gains
Lower support levels: 75,100, 74,300, 73,800
Ethereum first reached the daily EMA30 support, which is also the reason why ETH is more resilient and stronger than BTC now. Currently, ETH is forming a small-term bullish divergence structure, with potential for a small rebound upward. After the rebound, you can place a short order around 2,290, with a stop loss at 2,310, aiming for a large-term short position to push the market down.
Upper resistance levels: 2,310, 2,350
When reaching major support levels, consider reducing positions partially to lock in profits
Lower support levels: 2,260, 2,210
$BTC $ETH
BTC-1.11%
ETH-0.69%
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