Saturday, double top forming at 74000, trade cautiously

The reason for Bitcoin's dive last night has been found - the U.S. military deployed Marines to the Middle East battlefield, triggering panic across global financial markets, causing gold and crypto to plummet simultaneously - a bloodbath indeed.

Market sentiment was improving ahead of the upcoming Federal Reserve rate decision, but the U.S. just poured cold water on everyone. This forces me to reassess the market direction going forward. No destruction, no construction; destruction then reconstruction.

The 74000 level has formed a double top resistance, but the daily-level uptrend channel remains intact. In the short term, we still need to revert to range-bound consolidation, with the range temporarily locked between 69000-74000. We'll make our move after the opening next week.

The dive last night already released risk, so this is not the time to chase shorts directly. If 70000 doesn't break, go for longs first, targeting around 72200, no need to look too far. Ethereum basically follows the same rhythm. Entry points for both assets are as follows:

Bitcoin: Long in the 70300-70800 zone, target 72200, if not broken can reverse to short scalp

Ethereum: Long in the 2075-2090 zone, target 2150, if not broken at 2180 can reverse to short scalp