The beautiful valley continues to decline sharply. As of the time of writing, the Dow Jones has dropped by 1.25%, the Nasdaq by 2%, and the S&P 500 by 1.46%. We are once again in the fear of a previous one-sided decline. We view this rebound as the B wave, and there is still a C wave decline ahead. If it breaks below the previous low, it will accelerate the decline.

So currently, we are watching whether the weekly MA60 can support this decline without breaking the previous low; if it does, there is still a chance.

Bitcoin

The daily downward trend line and the Fibonacci 0.382 resistance have caused today’s drop to break below the MA200. In the video on the 26th, I mentioned that if it cannot break through the downward trend line in one go and falls below the daily ascending channel, it may form a triple bottom, with the premise that 77600 cannot be broken. Here, we also need to watch the performance of the US stock market. The key support levels for Bitcoin are 83000 and 80000.

Support:

Resistance:

Ethereum

The ETH/BTC exchange rate continues to hit new lows, having fallen for 2-3 years since 2022. After briefly spiking to 1900 during the day, Ethereum continued to decline and still shows no signs of stopping. There hasn’t been much hope for Ethereum.

The focus remains on strong or quality altcoins. There is a viewpoint: Currently, there are about 37 million tokens in the crypto market, of which 99.9% belong to "air projects." Only less than 100 projects meet the following criteria:

• Have an experienced team
• Maintain a long-term bullish attitude towards their own tokens (net buying exceeds net selling)
• Possess a clear business model and a roadmap for achieving sustainable profits
• Find a real product-market fit or a clear path
• Can continue to deliver regardless of market conditions
• Have real competitive barriers and align with macro trends (such as AI, RWA, stablecoins, etc.)

The task for investors is to find these protocols with long-term potential among the many projects and make long-term bets.

If you like my views, please like, comment, and share. Let’s navigate through the bull and bear markets together!!!

The article is time-sensitive and for reference only; it is updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu

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