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In a bull market, you fight for profits; in a bear market, you sharpen your understanding. The truly strong navigate through both bull and bear markets with ease! The current trend is indeed disappointing, breaking below the 60,000 line all the way to this morning's 57,881. ETH also followed BTC to a low of 1,567!
Actually, looking at the daily chart, yesterday saw a continuous waterfall decline. After prolonged narrow-range sideways consolidation, the price has been consistently hugging the lower Bollinger Band, a typical bottom-fishing pattern. This is a standard downward channel. The larger structure remains bearish. Even if there is a slight rebound, do not go all-in to buy the bottom!
BTC 59000 - 59500 Short Target 57000
ETH 1580 - 1600 Short Target 1530