Bitcoin has failed to hold the key support and has started to decline, which is an undesirable trend. Bitcoin has approached the resistance near 94000, and the momentum for breaking upward has begun to decrease sharply. Currently, both the hourly and 4-hour charts have broken their levels. Tomorrow it needs to close above 89500 to stop this downward trend. If this position breaks down, the support will be near the previous low of 93800.
Ethereum's trend is somewhat stronger than Bitcoin, but breaking below the 3000 mark is highly likely, with support around 2970. Stabilizing above this level may lead to fluctuations and upward movement, but currently, preparations for a decline should be made.
As we approach Christmas, market sentiment is quite cautious, and there aren't particularly good opportunities in spot trading. Last December was exactly the peak within a year, which is another point to be wary of.
The PIPPIN mentioned yesterday has also started to retreat, with no one taking over the long positions, causing the price to slowly decline. This is also the basic trend after profit-taking on long positions. The fear from the last bull market dominated by Luna has shown good performance today, with one LUNA, one LUNC, and the USTC pegged to it. The probability of a fleeting moment is quite high, so managing stop losses and controlling positions is advisable.
