The update on the post was a bit lacking. This morning, I noticed a downward trend in the market and immediately posted an update on my analysis of the market. It aligns with our expectations for the broad market, which rebounded before continuing to decline. The current trend has reached our expectations, and we will continue to analyze the upcoming market trends.
This morning, I mentioned that Bitcoin rebounded to around 89300, peaking at 89876 before starting to decline. It has now reached the support level near 86800 that we mentioned last week. The bottom has also seen some decline, and the current trend is not looking good. If this position breaks, there is a trend to test the previous low point at the 80000 mark.
Ethereum is currently oscillating around the resistance at 3070. After a rebound that lured in many traders, it has also reached the 2950 level we mentioned. Currently, both Bitcoin and Ethereum have reached the critical positions we highlighted last week, marking a watershed moment in the market that requires special attention.
At present, for altcoins, there are good narratives, and the fan token sector has potential. The World Cup in June next year could drive a wave of market activity, which might start to be speculated on one or two months in advance. I am particularly optimistic about Santos, Porto, and Lazio.
