Good evening everyone, I am Gu Yue. The sudden drop caught us off guard, with Bitcoin falling from around $99,000 yesterday to nearly $92,000, a drop of nearly 7,000 points. Ethereum fell from around $3,550 to nearly $3,300, a drop of nearly 250 points. The decline is significant, and currently, the hourly chart has dropped to the lower band of the Bollinger Bands. In terms of the current situation, the downtrend has not improved. The four-hour MA has crossed below the middle band of the Bollinger Bands and is diverging downwards, indicating that the decline may further expand. Currently, there is no sign of a bottom, but the risk of shorting at this position is also high. A better suggestion is to wait for a drop and then go long at the bottom, which is more prudent.

Currently, Bitcoin has a Fibonacci retracement analysis showing support at $90,431, which we need to pay close attention to, as this is the support at the middle band of the Bollinger Bands on the daily chart. For Ethereum, we are paying attention to the $3,200 support. If anyone needs to trade tonight, it is feasible to wait for a rebound to short or wait for a drop to go long. The resistance levels to watch for Bitcoin are $94,300 and for Ethereum are $3,430.

Go long on Bitcoin near $91,000 with a target of $94,000.

Go short on Bitcoin near $94,000 with a target of $91,000.

Go long on Ethereum near $3,200 with a target of $3,400.

Go short on Ethereum near $3,400 with a target of $3,200.

There are many types of investments, and it is important to choose what suits you best. There are many paths, and it is crucial to choose the right guide. I am Gu Yue, interpreting world economic news, analyzing global investment trends, providing daily market analysis, and offering you the latest trading strategy ideas, along with professional investment consulting services, helping you reach the peak of financial management. #BTC☀