Last night was a bloodbath, the mainstream altcoins completely collapsed, it was like Black Thursday. The previous surge was too strong, and indeed the bull market is often followed by sharp declines.

Bitcoin/Ethereum simultaneously retraced to the second support level and rebounded. It is currently consolidating near the first resistance level for upward movement. Aside from the 1-hour level, other technical indicators are in a pullback. Silk Road suggests a rebound in this area.

Bitcoin rebounded in the 98500 area, looking down at 95000.