Bitcoin (BTC) has recently struggled to rise and maintain a position above the 69,100 area, suggesting a potential correction is forthcoming. Due to this failure, it appears that we will have to wait longer for a bullish trend to reestablish itself. There is a high probability that during the early part of next week, we could see BTC prices drop to the 67,000 area or lower.
A break below the 68,700 level would be a negative signal, though there is some moderate support at the 68,500 area. It is expected that the BTC price might fall to the 67,100 or even the 67,300 area before experiencing a bounce back. However, if the price breaks below 66,500, it would indicate a further bearish trend and could necessitate a retest of the rise from the 65,000 area.
The Relative Strength Index (RSI) indicator also points to a necessary and negative decline. Currently, the RSI is at 49.41, suggesting there is a possibility of it falling to the 45.13 area. Entering the period from May 28 to May 29, BTC might drop to the 67,100 area before bouncing back up to the 69,000 to 74,000 range.
Similarly, Ethereum (ETH) appears to be on the verge of a decline, despite the RSI indicator suggesting a target of 3,950. So far, market conditions look negative, including the lack of liquidity rise accompanying the penetration of the 2,507 area. It is therefore expected that ETH could fall to the 2,478 area.
The peak at 2,520 remains a critical resistance level; breaching this level would indicate a potential upward movement. Additionally, the dominance of the USDT continues to increase, recently pausing around the 4.48 area, with aims to rise towards the 4.50 to 4.55 range.
Traders should exercise caution around the 4.50 level, as breaking through it could lead to significant price damage, and the market does not yet seem prepared for a move above the 4.60 to 4.70 area.
In summary, for both BTC and ETH, there are key support and resistance levels to monitor closely. The upcoming period will likely see fluctuations within these ranges.