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🎁 Gate APP has been updated to the latest version v8.0.5. Share your authentic experience on Gate Square for a chance to win Gate-exclusive Christmas gift boxes and position experience vouchers.
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Your fa
BTC and ETH are now in a "weak oversold sideways consolidation in a downtrend," which is a typical downtrend continuation;
Although there are short-term rebound conditions, the medium-term structure remains bearish; the true direction depends on the five major economic events announced intensively over the next two days, as mentioned in the previous tweet. The most influential are tonight at 9:30 PM US CPI data (if the data exceeds expectations, expect further decline) and tomorrow at 11:00 AM Japan interest rate decision (likely rate hike, continue to fall);
The current volume-consolidation is essentially a three-way tug-of-war: the bearish trend is not over + short-term oversold + macro uncertainties not yet resolved. The medium to short-term main trend continues downward, and each rebound is an opportunity to open short positions and sell. BTC will first test the $80,000 support, then $74,000; ETH targets are $2,350 and $2,000;
Of course, the current prices are already oversold, and it's time to test your courage to buy the dip. Do you dare to buy?