Continued decline, how far can the bears go?
① 18:00 US August NFIB Small Business Confidence Index
I. Bitcoin
- Daily chart: The price has broken below the trend line and is testing the support at 25000. Pay attention to the test results in the future.
- 1-hour chart: After breaking below the 25240 support level, the short-term trend is maintaining narrow fluctuations. If it breaks above this level, it will initiate a rebound trend.
II. Ethereum
- Daily chart: The price has broken below the trend line and the 1630 support level. Pay attention to whether a new low will form in the future.
- 1-hour chart: After breaking below the 1565 support level in the short term, there was a rebound. If the rebound breaks above this resistance, it will initiate a rebound trend.
I. Bitcoin
- Yesterday's view:
Summary: After testing the 25600 support level, the price rebounded slightly in the short term. If it does not break this support, there is still a trend of continued rise. Pay attention to the resistance at 26800 and 28000; if it breaks below, the downward trend will continue. Pay attention to the support at 25330 and 24600.
- Future trend:
After the future trend retraced below the 25600 support level, it continued to decline and successfully reached the first target at 25330, with a low of 24888.
II. Ethereum
- Yesterday's view:
Summary: After briefly breaking below the 1620 support level, the price returned to test it. If it breaks above this resistance in the future, there is still a trend of continued rise. Pay attention to the resistance at 1690 and 1740; if it breaks below, the downward trend will continue. Pay attention to the support at 1575 and 1496.
- Future trend:
After the future trend rebounded without breaking the 1620 resistance level, it continued to decline and successfully reached the first target at 1575, with a low of 1528.
I. Bitcoin
Summary: After breaking below the 25240 support level, the short-term trend is maintaining narrow fluctuations. If it breaks above this level, it will initiate a rebound trend. Pay attention to the resistance at 25600 and 26150; if there is no resistance, the downward trend will continue. Pay attention to the support at 24600 and 24050.
II. Ethereum
Summary: After breaking below the 1565 support level in the short term, there was a rebound. If the rebound breaks above this resistance, it will initiate a rebound trend. Pay attention to the resistance at 1600 and 1680; if there is no resistance, the downward trend will continue. Pay attention to the support at 1500 and 1445.
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