Recently, the cryptocurrency market has been in a state of mourning. Over the past month, the prices of altcoins have plummeted, with SHANZHAI down by 74%, TNSR down by 64.73%, ENA down by 55.83%, and others experiencing a general drop of 60-70%, and in some cases even 80-90%, which is greater than the 519 drop. Bitcoin and Ethereum have dropped by around 20%.

Bitcoin has pierced through the 57800 support level, falling below 58400, although it is still near 58900. This drop has broken the bottom of the oscillation for over 10 days. Ethereum's drop yesterday and today has broken through the weekly BOLL at the lowest point of 3155. Both Bitcoin and Ethereum have formed a head and shoulders pattern on the weekly and daily charts, and if the neckline is broken, it may enter a bear market, so everyone must pay attention…

Bitcoin The weekly and daily charts are testing the support of the head and shoulders pattern. I call it a phase of the bull-bear watershed. If it falls below 56552, it is not necessary to clear the spot, but it should be reduced by half to prevent the occurrence of a special event like 519/312 black swan.

In this wave of decline, if we fail to break through 70400 after rebounding from 72000, it is a warning to reduce positions to prevent a crash. If it rebounds from 58400, it is a reminder that there will be a rebound, but the rebound strength is too weak and it continues to fall after reaching 63800. Now it is testing the support of the head and shoulders pattern, and there is still no sign of stabilization at the moment, so we can only continue to wait and see.

The daily chart previously warned that the triangle pattern was broken in the morning. Once the bottom diagonal line of this triangle is broken, the horizontal support at 56552 may not hold. The previously mentioned bat pattern also indicated a bearish direction. The first bottom fishing opportunity at 59600-62000 (already broken), the second bottom fishing opportunity at 55000-56552 (currently testing support in this area), and the third bottom fishing opportunity at 43000-45000 (in extreme cases). Patience is required.

Support: Resistance:

Ethereum Ethereum is entirely dependent on the ETF spot expectations, but the continuous postponement has caused the market to keep moving downwards. It has fallen to the lowest point of 3355, with a needle at 3155. From a technical perspective, the bottom has not yet been seen. The weekly chart has broken through the BOLL midline. Although it is still some distance from the head and shoulders pattern support, it still depends on the strength of the support for Bitcoin's head and shoulders pattern.

Support: Resistance:

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

The article is time-sensitive and is for reference only, with real-time updates.

Focus on candlestick technical research, win-win global investment opportunities. Official account: Trading Master Fusu

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。