❌ UPDATE: BTC – ETH ARE RECOVERING, BUT DON'T RUSH TO CALL A BOTTOM!
🎯 1. STRATEGY WITH BTC: 67.1K IS THE MOST CRITICAL TEST
After reacting quite well at the psychological support level of $60,000, BTC has seen some short-term buying pressure and is currently trading around $63,000. This is the first positive signal after a series of sharp declines, but it's still not enough to confirm that the market has reversed. The area you all need to keep an eye on right now is around 67,100$. This is a strong resistance on the H4 timeframe and also the zone where the Bears might come back to apply pressure.
Entry: If BTC continues its recovery trend and successfully breaks out of the $67,100 zone, the short-term price structure will improve significantly, opening up opportunities for a deeper retracement. Conversely, if BTC bounces back but is still rejected at $67,100 and fails to close a candlestick above this level, selling pressure will likely return. In that case, the market could very well revisit the $60,000 zone once again. In a more negative scenario, if $60,000 is lost, the next strong support zone will be around $55,800. To be clear: if BTC hasn’t surpassed $67,100, don’t rush to call this a reversal.
🎯 2. PLAN WITH ETH: $1,840 IS THE BULLS' BARRIER
ETH is also showing a decent recovery response after hitting the $1,500 zone. Currently, the price is trading around the $1,650 area, but fundamentally, this is still just a technical bounce in a larger downtrend. On the H4 timeframe, ETH remains below the EMA 34 and EMA 89, indicating that the bearish structure has not changed. The area to watch in the coming sessions is at $1,840. This is a strong supply zone and also a key area to determine whether ETH has enough strength to extend its bounce.
Entry: Only when ETH breaks above the $1,840 zone and holds above it will the Bulls truly regain short-term dominance. If ETH continues to fail at $1,840, the market is likely to revisit the strong support area around $1,380. Right now with ETH, guys, absolutely don’t FOMO just because you see the price bouncing off the bottom. A technical bounce is one thing, a real reversal is a whole different story.
🔥 CONSIDER:
The current phase is one that can easily make traders lose patience. After a strong drop, just a few green candles appearing leads many to start believing that the bottom has been confirmed. But in trading, belief doesn’t generate profits. Confirmation is what creates profits. $67,100 for BTC and $1,840 for ETH are the two most important zones you guys need to monitor in the coming days. If we break through, reassess the structure. If not, all current upward moves are still just technical bounces.