Last night, the price of Bitcoin plunged again to around 93,600, while Ethereum reached around 3,500. However, the price of Bitcoin did not continue to fall in the early morning. Instead, it began to fluctuate upward after being supported from below. Ethereum just had a big positive line directly penetrate 3,700, forming a reversal. After such a strong rise in Ethereum, the price of Bitcoin will definitely pause, and there is a high probability that Bitcoin will continue to retrace. From the 4-hour price pattern, the price of Bitcoin frequently switches between long and short positions, lacking continuity. However, from the perspective of the pattern, although the price of Bitcoin has a long lower shadow, the current round of price decline has not stopped, so don't rush to enter the market for long orders, just wait for the opportunity.
First look at the price pullback, wait for stabilization before planning long positions. Bitcoin was shorted at 95800-96300, watch around 94300. Ethereum was shorted at 3705-3740, watch around 3600.
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