Old Speculator No. 7.2 Talks About Coins: After BTC Breaks Below 106,000, How Long Until It Breaks Below 100,000 Again? Where Will ETH Drop To?

Market Review and Analysis

BTC directly broke below the 106,000 level last night, and after breaking, the decline did not significantly increase; it only dropped to around 105,000 this morning. For this kind of trend, the decline is not considered very large, so at this stage, it's estimated that it won't immediately drop to the second support level of 102-103 area. There will be a slight rebound and consolidation before breaking down again. After breaking the 102-103 area, it will drop below 100,000. Let's see if it can achieve breaking below the 100,000 mark again this week. The ETH market follows the movements of BTC, and during the early morning phase, it broke below the 2400 mark, although the amplitude is not very large, just returning to around 2380, a support point. The firmness of ETH a few days ago was due to a lack of previous upward adjustment, so it became firm for a while, but it will still be affected by BTC's decline during the process. For this kind of trend, there's no need to rush; wait for BTC to break down first, and it will be pulled down as well.

Today's Market Interpretation

BTC has already broken below the support level near 106,000 on an intraday basis. Normally, the sustainability of such a breakdown is not very strong, so on an intraday level, we can first focus on the support level in the range of 103,500-104,500. Currently, the four-hour intraday level is showing a small-scale rebound after a drop. The intraday resistance points to pay attention to are in the range of 106,000-106,800. If it rebounds to this range during the day, it will attempt to break down again to around the support level of 104,000 in the evening. Everyone should pay attention to risk control.

For ETH, normally, this wave of decline is not particularly large. It has already broken below 2400, and on an intraday level, the resistance points for the rebound should focus on the range of 2400-2450. Currently, it is at this range, so we can directly observe the strength of the next support point on an intraday level. Normally, we focus on around 2300. For precision, we can look at the range of 2280-2330. On the intraday level, first, pay attention to the upper resistance range and then see if it pulls back.