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?
BTC1%
ETH0,55%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)