**Bitcoin and Ethereum: The Fall Has Just Begun**$BTC $ETH
As I shared in yesterday's Bitcoin analysis, if you had taken a Short at the $63,800 pullback, you would have had a great success. However, the important question now is: How low will Bitcoin and Ethereum go?
**On Bitcoin:**
I still maintain that Bitcoin will continue to quickly sweep towards the $60,000 - $59,000 area before potentially recovering. This is a strong support area that many traders are watching.
**On Ethereum:**
Ethereum (ETH) recently touched a fairly solid support area at $2,556. However, if Bitcoin continues to fall further, ETH will be under great pressure and may continue to fall towards the $2,520 area. This is a weaker support area, and if ETH falls to this level, it will be difficult to resist the downtrend. Therefore, entering a long order in this area is high-risk and should be carefully considered.
**General Comment:**
Currently, both leading cryptocurrencies are in a downtrend. Investors should closely monitor important support zones and signs of volatility from the Bollinger Bands indicator to make reasonable trading decisions. The market is potentially risky, so patience and caution are needed.