8.15 Early Morning Silk Road
Looking back at yesterday's early morning breakout to around 124500, then it fell all the way down. In the evening, the PPI was announced and a waterfall decline occurred, returning to around 117000.
During this hour, when it was trying to bounce back, it never broke that key support level. When it reached the middle line (middle track), it immediately reversed, indicating that the support at this line is quite strong. Now there are quite a few people looking at the market, many are trading, but the market trend could very well reverse soon.
Bitcoin returned to around 117400-116500, looking towards 119200-120000.
Ethereum returned to around 4450-4520, looking towards 4650-4720.
