25/01/08BTC plummeted below 100,000, ETH returned to the box, is it a strong wash or shipment?
The crypto market staged a battle between bulls and bears. The day before yesterday, it broke through 100,000 and reached 102,724, then fell below 101,288 and accelerated its decline. It fell to a low of 96,181, a drop of 6,500 points, a drop of 6.37%. After Ethereum broke through the short-term rising channel, it fell to a low of 3,355, a drop of 389 points, a drop of 10.4%.
In a bull market, there are many plunges and pins. The head and shoulders bottom supports 94500-95500. If it falls below here, it is not ruled out that it will go down in wave C. For the time being, it depends on whether the rebound can recover 100,000. If it recovers, it will still be a shock wash.
Flatbread
The break of Bitcoin below the 100,000 mark also shattered the psychological price of many people who were optimistic about the price. It is normal for the bull market to have many sharp drops. 561 million positions were liquidated and 187,000 people had their positions liquidated on the entire network, most of them were bulls. The 4-hour upward trend fell below the short-term focus on the rebound ability. If it cannot recover above 98,400-100,000, it is not ruled out that it will continue to fall. The key support for this wave of rise is 94,500-95,500. The previous 4-hour head and shoulders bottom neckline was broken and the 91,500 support would be tested.
The daily line is currently testing the support levels of MA20 and MA60. The temporary rebound shows a risk of breaking down. Recently, Bitcoin has been slightly following the NASDAQ and S&P. Last night, the NASDAQ dropped 375.3 points, and NVIDIA's market value evaporated by 1.7 trillion. Federal Reserve Governor Lisa Cook.
Rarely has such a direct warning been issued regarding the US stock market. Cook stated that many asset classes, including stocks and corporate bonds, are highly valued.
Support:
Pressure:
Ethereum
Ethereum dropped 9% in one move, returning directly to the starting position near the lowest point of 3336. As of the time of writing, no significant rebound has been observed. First, we will look at the rebound strength of the oversold recovery, with upper pressure at 3444—3555.
Bitcoin and Ethereum are still focused on whether this is a washout or a sell-off, and whether a downward C wave is occurring. Currently, it remains unclear, so continue to monitor the market.
Support:
Pressure:
