Today's Market Analysis:
Bitcoin experienced a sharp decline yesterday, directly breaking through the ascending channel, reaching the support at the top of the previous range. There may be two potential trends here:
1: Price breaking down, clearing out long positions, then continuing to return to the ascending channel to challenge 100,000.
2: Continuing to oscillate within the previous range, watching the macro environment and news to see if there will be any stimulating news to promote a breakout or further decline.
3: The overall trend for Bitcoin remains bullish unless it reaches this reversal zone on the chart, where breaking below would signal the end of the bullish trend.
Ethereum:
Ethereum rebounded strongly after falling to the trendline support yesterday. Pay attention to the resistance of the upper trendline; it is possible to short high and long low in this range.
If it breaks below the trendline, watch around 3200.
The reversal zone for Ethereum is near 2800; breaking below signals the end of the bullish trend.
