According to previous analysis, the current market is still in a downward trend, and Bitcoin (BTC) and Ethereum (ETH) have not shown any significant signs of a bottoming out.
Reviewing previous viewpoints: Bitcoin has fallen below the bull-bear line. Although the RSI indicator shows oversold conditions, being oversold does not mean a bottom has been reached; it usually requires some time for a rebound and bottoming process.
Currently, Bitcoin still has the possibility of dropping below $80,000, with a key support range between $70,000 and $75,000.
If Bitcoin can stabilize within this range, it may form a medium to long-term bottoming signal.
After being oversold, the market needs to undergo a significant rebound to confirm the bottom, but there are currently no clear bottoming signals.
In the current declining market environment, it is advisable to adopt a dollar-cost averaging strategy, gradually building a position in batches, especially when approaching the $70,000 to $75,000 support range. One can start buying in batches and wait for a rebound.
Ethereum has fallen below $2,100, setting a recent new low, and may continue to probe lower in the short term. The key support range below is between $1,700 and $1,800.
If Ethereum can stabilize within this range, it may form a bottom.
However, without clear bottoming signals, the rebound space may be limited.
