This morning, Bitcoin and Ethereum fell below the key support level and continued to decline. Bitcoin's weekly rebound failed, altcoins generally fell, and the U.S. stock market also broke down on a weekly basis, recording the largest decline in a year.
Market uncertainty is high on the eve of the election. History shows that the rise often appears as the dust settles on the election. Therefore, Ethereum is under obvious pressure. It is recommended to wait and see and avoid impulsive buying. This cautious sentiment is widely spread. Although Bitcoin is relatively strong, it is also dragged down by market sentiment and performs weakly.
From a technical point of view, the current trend has deviated from the support track, and the daily line is in a row, which seems to touch the middle track. However, although the market bearish sentiment is strong, the decline is expected to be limited. It is necessary to wait for the bullish sentiment to be purified before it is expected to rebound. This is the main theme of the current market.
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