ETH started to decline yesterday afternoon, and a second probe was initiated at 8 o'clock in the evening.

The main reason for this wave of short selling is still a bearish news. The negative impact of last night's non-farm payroll data led to a second decline in the evening session.

From the current hourly chart, the decline came down from the support level of 1630 and directly broke through the lowest point of 1600 to reach 1565. It has only formed a small rebound in the short term. Currently, it seems that the upper level of 1600 has become a recent resistance level. The price is still being suppressed by the MA50 purple moving average, and the rebound is not so easy.

In terms of ETH operations, it is still advisable to follow the trend and go short, with an entry range of 1595-1605 and a target of 1570 below.

BTC also directly broke through the uptrend channel with the help of bearish news. The previous support level of 26800-27000 has now become a resistance level for the rebound. If it cannot break through 26800 today, it is still bearish.

The moving average combination is currently leaning towards the bearish side, and there is a greater possibility of the moving averages converging and diverging downwards again.

Today, the outlook for BTC is still bearish, with a downside target of 26200.

Choice is far greater than effort; destiny is only responsible for shuffling, and it is always ourselves who play the cards. Some people see opportunities and seize them, while others see traps and fear. Just like the current market situation, seizing opportunities is the most important.

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