Last night#BTC Bitcoin plunged from a high near 110300, touching 109200 before attempting to rebound, reaching a maximum of 109800. However, the bulls were weak, and it continued to decline. This round dropped from 109000 all the way down to 108300, and another wave of rebound couldn't hold at 109200, continuing to break down. Then it dropped to 108000, lingered for a while, and bounced back to 108800, but still couldn't push up, the rhythm remained the same, continuously setting new lows, with the highs also decreasing. As of now, the lowest point seen was 107300, with a small rebound hovering around 107700. The market indicates one thing: the trend is bearish, and the rebounds are weak.

Last night, I called for long positions near 108500 in the live stream. During the session, seeing the trend was not right, I decisively reminded to take profits and exit to avoid losses this morning. Looking back now, the strategy was correct. Currently, Bitcoin is approaching a phase of accumulation. If it truly dips down to 107000 or even around 106000, I would personally consider short-term buying to take a chance on a rebound to 109000, as this drop has been deep enough, and there is a need for technical correction in the short term.


Resistance levels: 108000, 109000, 110300, 111300, 112000

Support levels: 107200, 106800, 106500, 106000


Looking at #ETH Ethereum, this wave peaked at 2880, pushing hard against the strong resistance at 2850, before crashing down. The first wave dropped to 2780, then rebounded to 2830 but couldn't break through, continuing to test the bottom near 2740, after which there was some rebound space. Currently, it hovers around 2750, performing slightly better than Bitcoin.

Ethereum has a chance to push to 3000 in the future, but it depends on Bitcoin's performance. If BTC stays at a high level, Ethereum will have room for another move. The lower level at 2750 needs to hold; if it breaks below 2700, especially the key support at 2600, then this wave of upward structure would basically be ruined, making it difficult to set new highs in the short term.


Resistance levels: 2780, 2830, 2880, 2920, 3000

Support levels: 2750, 2700, 2650, 2600


In summary: BTC needs to hold the defense line at 107000, otherwise it may need to be washed out; ETH still has short-term bullishness, but if Bitcoin is unstable, it will be hard for it to move independently #看懂K线 .

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