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#BTC 【Two Images to Understand Bitcoin Trends】
First, look at Image 1: Previously, we mentioned that Bitcoin experienced an upward trend for about 455 days, with a continuous top divergence. On November 3rd, it officially broke below the trend line, and we determined that the bull market had ended. After breaking below, it accurately rebounded to the trend line which then became resistance and quickly fell back to around 80000 (support and resistance switched).
Now, look at Image 2: After falling to around 80000, it rebounded and fluctuated within a rounded top formation. Currently, we are focusing on whether the upper yellow resistance line can be broken. If there is no effective breakthrough, we expect to test the previous low, which is around 80000. At present, liquidity is indeed relatively weak, and the trading volume is insufficient.
In summary, we still have two support areas below, with the first target in the blue area around 80000 and the second target in the blue area between 72000 and 74000.
$BTC $ETH
First, look at Image 1: Previously, we mentioned that Bitcoin experienced an upward trend for about 455 days, with a continuous top divergence. On November 3rd, it officially broke below the trend line, and we determined that the bull market had ended. After breaking below, it accurately rebounded to the trend line which then became resistance and quickly fell back to around 80000 (support and resistance switched).
Now, look at Image 2: After falling to around 80000, it rebounded and fluctuated within a rounded top formation. Currently, we are focusing on whether the upper yellow resistance line can be broken. If there is no effective breakthrough, we expect to test the previous low, which is around 80000. At present, liquidity is indeed relatively weak, and the trading volume is insufficient.
In summary, we still have two support areas below, with the first target in the blue area around 80000 and the second target in the blue area between 72000 and 74000.
$BTC $ETH
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