Bitcoin, after refreshing a new high of 12.45, fell to 11.46, having retraced nearly 10,000 points. On Monday, it faced a sudden one-sided drop, with strong resistance around 117,000. After failing to break higher, it fell back! From a daily perspective, all moving average indicators show strong resistance, and MACD is also in a state of a death cross with volume expansion, so we can only expect higher highs and lower lows!

Ethereum, fell from around 4,800 to 4,200, a nearly 600-point retracement, which is still significant. This is very similar to 2021, where the price faced a series of large retracements after attempting to break above 4,800 USD. From a daily perspective, strong support is near MA20 around 4,070, and MACD is also in a state of high volume expansion, so it remains focused on higher highs! It is inevitable that there will be a second downward probe!

Suggested trading ideas:

Bitcoin: Short around 117,000-117,500, target 114,000-114,500

Ethereum: Short around 4,350-4,370, target near 4,200 #ETH#BTC