CRITICAL MARKET ANALYSIS: BTC AND ETH'S DOWNTREND CONTINUES

#AltcoinBoom

BTC, which tested the 94,700 resistance in the morning hours, fell below the 92,500 level with selling pressure in the afternoon. Transactions were made that made a profit of over 100 points during the day. While a profit of 1,300 points was achieved with short positions opened at the 94,100 levels of BTC, a profit of approximately 90 points was made with positions opened at the 3,250 high level for ETH.

In the daily chart, attention is drawn to the support levels of BTC in the 91,000-90,000 band. There is a similar downward trend for ETH. It is recommended to determine the stop-loss levels correctly during transactions. In addition, a short position can be opened in a possible return to the 93,000 levels and the downward trend of the market can be evaluated. Short positions for ETH can be targeted between 3,170-3,150.

As a result, the short-term downtrend continues to be effective in the market. In possible pullbacks, aggressive purchases should be avoided without testing support points. BTC sell positions can be opened at 93,000-92,700 levels, target 90,500 levels. The target for ETH was determined as 3,070.

#escoin #elg

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