Yesterday at noon, Bitcoin fell continuously for 13 hours, and then Ethereum followed suit, dropping from around 2610 to around 2450, trapping many long positions and significantly boosting the confidence of the bears.

From the chart above, it can be seen that Bitcoin did not break below the previous low point; it just reduced the upper high point without breaking the lower one, which can be interpreted as a lack of volume, with the existing stock accumulating energy to break through 112000.

It is crucial to observe whether today's trend will break below 102800, and if a bearish candle closes below 102800, then the next step could also see around 98500.

Yesterday, the long position in Bitcoin that was set at 102800 stopped falling at 103300; it did not enter, and its low point is also rising. For example, the low point on June 5 was 10300, then on June 13 it was 102600, and then yesterday's low was 103300. Its low point is also continuously rising, showing that the high points are decreasing while the low points are increasing. It needs to accumulate energy to break through this area.

The upper resistance level is still a bit heavy; for it to rise, it needs to break and stabilize in the range of 105300 to 106200. This area can also be understood as a defensive position for short positions. Once it breaks through and stabilizes, short positions can consider exiting.

However, it dropped to 103300 in the early morning and then rebounded to 105000, proving that there are still buy orders supporting the market below, and confidence in the market has not been lost.

Now looking at Ethereum, its trend is similar to Bitcoin. As a leading altcoin, its high points are also decreasing, yet the low points have not broken, and the low points are rising. It needs to accumulate energy to break through the 2880 area, in order to surge towards around 3300. On the downside, in the short term, it may see around 2220 at most.

These past couple of days, possibly due to the impact of the war, the financial sector has seen some collapse; however, the cryptocurrency sector is doing relatively well overall and has not dropped much.

Brothers, have confidence in Ethereum. Looking at the monthly trend, the upper target is the 3300 to 3700 area. We need to get in early and not chase after the surge later.

It is currently accumulating energy and oscillating here, and the spot staking of Ethereum will not let it drop too much; it still needs to push upward.