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After the market surged higher, it started to pull back. BTC (the “big pie”) peaked at 66,924 and is now down to around 65,800. ETH is also moving in sync, consolidating around 1,915. The high-to-pullback scenario predicted earlier during the day has already played out as expected.
The price has not been able to hold above 66,000. The downward move will most likely continue. Next, the focus is on two support levels: 65,500 and 65,000. If price holds within the support zone, there is still a chance for a rebound later. Once support is broken to the downside, this round of the uptrend will likely come to an end.
Trading approach:
For BTC, if it stabilizes in the 65,000–65,500 range, you can position for longs, with the upside target looking toward 67,000.
For ETH, go long on a pullback around 1,890–1,910, targeting 1,960–1,980. #BTC#ETH