Warning of a sharp drop! The scenario of mutual destruction of bulls and bears is repeating!
Last night, $BTC surged to $108,860 before quickly plummeting, and continued to decline in the early hours. This 'boiling frog' trend directly broke through the support zone of $106,000-$106,500, hitting a low of $105,054, with a drop of 3,000 points being quite brutal. In contrast, ETH remains relatively strong, firmly holding above $2,600 without backing down.
Although this round of correction is quite severe, the overall direction is still bullish. As long as BTC does not fall below the key defensive level of $104,000, it is likely to regain strength in the future. However, if this level is broken, one should be mentally prepared for a further drop to $102,000.
In terms of strategy, it is recommended to look for long opportunities in the range of $105,500-$105,000 for BTC, with a target near $108,000; for $ETH , look to establish long positions in the range of $2,630-$2,600, targeting around $2,700.
Remember that market sentiment is currently quite sensitive, so be sure to manage your positions well and set stop-loss orders. Although the overall trend is bullish, short-term fluctuations may be very intense.
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