Bitcoin and Ethereum Today's Market Analysis
Bitcoin has begun to show signs of a pullback, having also broken below the support near 106700. The upward trend has been broken, with the 4-hour high points continuously decreasing. Today, we expect a rebound; if the rebound lacks strength, it is very likely to continue downward. Bitcoin has slightly declined, while altcoins have dropped significantly, so when Bitcoin falls, look for altcoins to short.
Ethereum had a false breakout around 2730, and this morning it even dropped to around 2550. However, Ethereum is still in a bullish trend; the key support for Ethereum is around 2450, and if it breaks below that, it will turn bearish. A pullback to this level could also be an opportunity to enter a long position. The support is between 2500 and 2450.
Currently, it seems that a big market movement is on the way after so many days of consolidation. In the next few days, I will mainly focus on short positions.
Today's resistance levels for Bitcoin are
Around 106700 and 109000
Today's support levels for Bitcoin are
Around 104500 and 102000
Today's resistance levels for Ethereum are
Around 2670 and 2730
Today's support levels for Ethereum are
Around 2550 and 2500
