How will the market develop next, and what are the initial signals of stopping the decline:
Today's market has been weaker than expected since Powell's speech. Since this round of standing above 90,000, it has experienced three relatively fast sharp declines, and today is the fourth time.
It can be said that the first three sharp declines consumed a lot of buying, so there was not much buying on the market after this sharp decline. Instead, there was a negative decline after sideways trading, which was equivalent to burying the funds for bottom-fishing again.
There is no large-scale fundamentals for Bitcoin, and institutions are also continuing to increase their holdings. It is expected to consolidate around 100,000. In the long run, it will continue to rise. The continuous decline is also without volume. It can be regarded as continuing to consolidate in this range. All the rises must be consolidated before moving to the next step.
On this basis, if it can be inserted below 100,000, it can be entered in batches, and it will be received until 85,000.
This wave of Ethereum's weakness is beyond my imagination. Not only did it fall with Bitcoin, it even couldn't keep up with Bitcoin's exchange rate. It really didn't keep up with the rise, and it fell even more violently. However, since the profit-taking is relatively small, the rebound momentum in the future market may be greater than that of Bitcoin.
