Daily Crypto Market Insights: Prepare for Major Bitcoin and Ethereum Moves
$BTC and $ETH Complete Overview and BiG Turns
Bitcoin Analysis: A Potential Downturn Looms
Bitcoin's recent recovery seems to be nearing its peak, signaling the possibility of a significant decline on the horizon. If the market moves quickly, this downturn could begin as early as next week. As I’ve mentioned before, the daily chart indicates that Bitcoin hasn’t completed its downward trend. More lows are likely ahead.
The price movement from $108,000 to $92,000 has been unfolding within a four-hour bearish trend structure. Currently, we’re experiencing a temporary recovery phase within the same four-hour timeframe, but this rebound appears to be losing steam.
Key levels to monitor include:
First Resistance Zone: Around $98,500, which aligns with a Fibonacci retracement of 0.5 and previous resistance points. This level could be an ideal entry point for short positions.
Second Resistance Zone: Near $101,000, corresponding to the Fibonacci 0.618 level. This offers another opportunity for short traders.
Once the current recovery phase concludes, Bitcoin is expected to enter another four-hour bearish wave, completing the larger daily downtrend. It’s worth noting that the $92,000 level likely won’t hold as the final bottom. Prices could dip further before establishing a solid base.
Strategic Reminder: Don’t Let Emotions Take Over
If Bitcoin surpasses $100,000, it’s crucial to reduce your holdings significantly—whether in spot trades or futures contracts. Exiting over half your position at this stage can protect your profits. Remember, emotional decisions often lead to losses. The psychological temptation at $100,000+ can trap many traders, so stay vigilant and avoid being swept away by the hype.
I’ve personally closed my long positions near $91,500 and plan to exit fully by $101,000. After this rebound, Bitcoin may retest lower support zones:
1. First Support Range: Between $85,000 and $87,000.
2. Second Support Range: Between $75,000 and $79,000.
For long-term spot traders, the first range could be a starting point for small entries, while the second range is where larger positions might be justified. Waiting for these levels can reduce risk and increase potential returns.
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Bitcoin Trade Plan:
Short Entry: $98,500–$101,000
Stop Loss: $103,500
Take Profit: $87,000 (medium-term target)
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Ethereum Analysis: Potential Downward Shift
Ethereum is mirroring Bitcoin’s patterns, showing a weakening recovery that could lead to further declines. The key levels for ETH are:
First Resistance Zone: Around $3,650, where the Fibonacci 0.5 level aligns with recent highs.
Second Resistance Zone: Near $3,700, at the Fibonacci 0.618 level.
Ethereum is expected to face strong resistance at these levels before continuing its bearish trend. Lower support zones to watch for a potential bounce include:
1. Initial Support Range: Between $3,200 and $3,300.
2. Deeper Support Range: Between $2,900 and $3,000.
Ethereum Trade Plan:
Short Entry: $3,650–$3,700
Stop Loss: $3,850
Take Profit: $3,200 (medium-term target)
Final Thoughts
Both Bitcoin and Ethereum are at critical turning points. Traders should prepare for heightened volatility and avoid getting caught up in emotional decisions. Stick to your strategies, manage your risks carefully, and keep an eye on these key levels for optimal entry and exit points.
Stay disciplined and focused—waiting for the right moment can make all the difference in these unpredictable markets
