8.2 The downward support is about to break. What should be done in this imminent situation?
Currently, the downward trend pressure for Bitcoin has decreased to 118500, and the trend support has lowered to around 111500. The maximum level trend support of 74000~98000 has gradually risen to around 110300 over time. When the price tests this level, it is likely to rise to around 111000, making this position a double support.
Ethereum's price has fallen from 3940 to the current low of around 3600, a decrease of 360 points. The current parallel upward channel trend support for Ethereum is around 3540. The previously established major downward channel trend pressure has turned into support after breaking the second high point, and this support has decreased to around 3440. The acceleration point is at 3440; if it breaks below this, it will test the ultimate support around 3150~3200. If this mid-line position cannot hold 4100, forget about it; a total reversal and a continuation into a major level of fluctuation toward 2000~1500 is highly likely. For friends who are not satisfied with recent market operations, consult btc0796 to connect with me for market discussions.
Operation Suggestions:
Short Bitcoin at 115800-116300, target around 114800-113800. Stop loss at 117000.
Short Ethereum at 3640-3670, target around 3560-3480. Stop loss at 3710.