Bitcoin and Ethereum Technical Analysis: Bear Season Has Begun

First, looking at the Bitcoin chart, the price is clearly below the short, medium, and long-term moving averages. The price is sloping downwards from the SMA(7–14–30) and is positioned below the SMA(50–100), clearly indicating a downward trend.

Reactions are being sold off at the falling averages, meaning the averages have now become dynamic resistance. Resistance attempts are coming with low volume. Buyers are not gaining dominance.

Volume in sell candles is deeper than in buy candles. Buying volume is not accompanying recoveries.

In short, BTC is currently in the reaction phase of a bear market. The structure is still downward, and upward movements do not inspire confidence.

Ethereum is also below the averages but is doing better than BTC. The SMA(7–14) is attempting an upward curve, showing a desire for a short-term recovery. However, the SMA(50–100) is still above, meaning the main trend has not changed.

The rebound from the bottom is stronger and more stable than BTC's. Candlestick patterns are cleaner, wicks are shorter, and there's no panic selling.

The increase in volume after the bottom is healthier than in BTC. Buying is still limited but not completely gone.

Ethereum is holding stronger than Bitcoin, but this strength is not yet at the level of a trend reversal.

Considering both charts together, I can say that ETH is holding stronger than BTC. However, the market hasn't yet entered "risk-on" mode.

In both charts, long-term averages are sloping downwards, rebounds are below resistance, and volume is insufficient for an uptrend. The market is not ready for a strong rise. BTC cannot lead, the market cannot go up. ETH is resilient but cannot start a trend alone.

The Bitcoin rally has ended for now. We will first see the bottom of the bear season ($50K), then we will continue the rise. $BTC $ETH