According to Monday's rhythm, there should be another deep wash! Everyone should be more mindful!
When the market suddenly shifts to a one-sided trend, we need to be very cautious. On Friday, the rebound to 98000 washed out 90% of the shorts below. If we break below 92500 today, we will need another deep wash for those who chased longs at 95000-97000.
On Sunday, the bearish outlook was released, and so far, it has come to fruition. This round of deep decline has no bottom; regardless of how it washes, you should follow a trend direction, and there shouldn't be too many issues. The current phase is still a bearish rhythm. Everyone needs to pay special attention!
Support levels are 92500, 89000, and resistance levels are 96500, 98000. It is very likely they won't hold, and the probability of breaking is high. Once it breaks down, it will be 89000. Everyone should focus on shorting on rebounds; if you are holding longs, wait until it reaches the bottom before averaging down; do not rush to add positions.
Ethereum is the same, with resistance still at 3400. There is short-term momentum to break 3150. If selling pressure comes, it could be 2950. Everyone should be careful!
In summary, I am bearish and will follow the trend.
