Both Bitcoin ($BTC ) and Ethereum ($ETH ) are approaching the neckline resistance of their respective double bottom patterns, with BTC at $64,500 and ETH at around $2,520. These two price levels are turning points for the market in the short term, and many ultra-short-term traders will choose to take profits here, so there is a certain amount of selling pressure at these positions.

$BTC For long investors, you can now consider taking some profits instead of opening a new position at this position to bet that it will definitely break through the resistance level. You can adopt a right-side trading strategy, that is, after the price stabilizes above the neckline resistance level, it will be a strong signal, and you can increase your position at that time. If the price does not break through the resistance level, it will be good news for investors waiting to enter the market again, because they will have the opportunity to buy at a lower price.

In the long run, although the price of Bitcoin has fallen in the past six months, which is disappointing, the issuance of USDT continues to rise, which is usually a very strong upward signal in the past. Therefore, the current market conditions may indicate a long-term bullish trend. The current cryptocurrency market is still seen as a value trough, just waiting for an opportunity to trigger an increase.