Let's talk about the technical status of BTC and ETH

1. Daily level situation

1. Candlestick performance: After BTC price rose to the upper boundary and encountered resistance, it has closed with two bearish candlesticks. It has now hit the bottom trend line. Moreover, the top structure has also formed. If the support trend line below is broken, the trend could shift from 'oscillating down' to 'trending down,' which is a significant difference; a trending down could fall more sharply and persistently.

2. Bollinger Band changes: Previously, the three bands of the Bollinger Bands were parallel, but now all three are pointing downward. This means that the previous oscillation trend might be coming to an end, and a downward trend may begin.

3. Support points: The support of the bottom trend line is roughly at the same level as the Vegas support position, creating a resonance. For friends planning to invest in the medium to long term, it's essential to pay close attention to whether this support holds. If it breaks, it could lead to a full downward trend, and the market could become quite pessimistic.

4. MACD indicator: The MACD indicator shows that the bearish volume continues to expand, and the dead cross state is still above the zero axis, which indicates that the market's bearish strength is relatively strong.

ETH price surged to 2680 two days ago, and it looks like it may form a head and shoulders pattern. Currently, the resistance positions corresponding to the left shoulder and right shoulder are roughly parallel, and the price is at the neck line position, gaining support. There is a high probability of a small rebound today, but this price has been oscillating for a long time and is in the converging part of the oscillation's right side. So, after this small rebound, it is likely to continue falling, and there is a significant possibility of breaking the neck line position.

3. 1-hour level situation

If the price continues to go down, the Vegas indicator may change from the previous golden cross trend to the current state of moving averages intertwining, and then further shift to a dead cross trend. Today's resistance level can be observed at the small top neck line position above, around 2578. If the price rises to this vicinity, it may encounter resistance and struggle to go higher.