📉 Bitcoin (BTC) and Ethereum (ETH) Analysis Amid Market Turmoil

🔥 Major Sell-Off Rocks Crypto Market:

The crypto market faced a tumultuous period over the last 24 hours, witnessing a significant crash and liquidations totaling approximately $937.32 million. Long liquidations dominated, amounting to $825.14 million, while shorts accounted for $112.12 million, according to Coinglass data.

📉 Bitcoin (BTC) Analysis:

Bitcoin (BTC) experienced a sharp decline to $65,000 before seeing a slight recovery to $67,445. However, the Relative Strength Index (RSI) remains in the bearish zone, suggesting limited bullish momentum. A potential pullback to $65,153 is possible if the RSI continues to fall. On the upside, BTC faces resistance at $70,602, as indicated by the Supertrend, which could hinder its path to new all-time highs.

📉 Ethereum (ETH) Analysis:

Ethereum (ETH) faced resistance at $3,599 after attempting to challenge $3,700, resulting in a drop to $3,257. The Awesome Oscillator (AO) indicates increasing downward momentum, with potential support at $3,082 if the decline continues. Additionally, the Moving Average Convergence Divergence (MACD) signals seller control, suggesting buyers have yet to regain dominance.

📈 What's Next for BTC and ETH?

While BTC and ETH face challenges in recovering from the recent crash, traders should monitor key support and resistance levels for potential trading opportunities. BTC's ability to overcome resistance at $70,602 and ETH's defense of support at $3,082 will be critical factors to watch in the coming days.

Stay tuned for further updates as the market dynamics unfold!
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