Bitcoin and Ethereum Market Overview and Forecast

Since 12 PM yesterday, Bitcoin has experienced a 13-hour continuous decline, with Ethereum following suit, dropping from around 2610 to 2450, resulting in many long positions being trapped and a surge in bearish sentiment.

Although Bitcoin has fallen, it has not broken the previous low, showing a pattern of decreasing highs and increasing lows, potentially building momentum for a push towards 112000. The key factor is whether it can hold above 102800 today; if a solid bearish candle breaks this level, it may further drop to 98500. The upper resistance zone is between 105300 and 106200, and if it stabilizes above this range, short positions may consider exiting. In the early hours, Bitcoin rebounded from 103300 to 105000, showing strong buying support below.

Ethereum's trend is similar to Bitcoin's, with decreasing highs and increasing lows, building up to challenge the resistance level at 2880, aiming for 3300, with immediate support at 2220. The financial sector is experiencing fluctuations due to the impact of war, but the cryptocurrency sector is showing overall resilience. From a monthly perspective, Ethereum's target is between 3300 and 3700, currently in a phase of consolidation, with spot staking providing bottom support; it is advisable to plan ahead to avoid chasing high prices.