Changpeng Zhao, the founder of Binance, recently reminded traders of a timeless market truth: there will be many dips along the way. His comment comes as Ethereum and Bitcoin are both beginning to show signs of exhaustion following months of increasing momentum. The statement reiterates the caution that short- to midterm volatility could easily surprise overconfident investors, even though long-term trends may continue to be bullish.
What's with market?
At the moment, Bitcoin is trading between $109,000 and $110,000, straddling the 200-day moving average (black line), a crucial long-term support level. After several unsuccessful attempts to maintain momentum above the $114,000 resistance, the chart shows that Bitcoin is struggling to regain this level of support. As buyers thin out, the market may experience another decline toward $106,000 or even $102,000 if it is unable to recover that region.
BTC/USDT Chart by TradingView
Before Bitcoin enters an oversold phase, there may still be an opportunity for a pullback, as indicated by the RSI’s neutrality around 45. Stated differently, CZ’s dips might occur just as short-term traders anticipate a rebound.
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Although its momentum is a little less strong, Ethereum displays a nearly identical structure. After being repeatedly rejected by its 100-day moving average and consolidating above the crucial $3,600 support, ETH is currently trading just below the $4,000 mark. A more severe correction toward $3,400 to $3,200 could occur at the confluence zone formed by the 200-day MA, which is situated near that same level.
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Conversely, regaining the $4,200 resistance would validate fresh bullishness, though that seems unlikely given the current circumstances. More downward pressure prior to recovery is also supported by the RSI at 43.
CZ may be right
CZ’s caution is realism, not pessimism. It is uncommon for markets to rise straight after bear cycles. Before the next leg is raised, each correction resets leverage and shakes out weak hands. Before any sustained breakout toward new highs, traders should expect at least one more dip along the way, given the technical setup of both Ethereum and Bitcoin.
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