Currently, discussions about the bull and bear markets of Bitcoin are becoming increasingly intense. 80% to 90% of people believe that the bull market has ended and we have entered a bear market, but there are also some who think that the four-year cycle has been broken and we are now in a chaotic era. Since the spike on October 11, Bitcoin's performance has remained very weak, with the rebound exceeding the Fibonacci 0.5 level. Therefore, it is likely to oscillate below 101516 to 120000 for a long time to come.

Since the 11th, Ethereum has not returned to the previous range even with the rebound. Since the weekly chart has shown a double bearish signal with a bullish candle in between, I believe the risks are increasing. Additionally, the MACD histogram has remained at the zero axis for two weeks, with the fast and slow lines crossing; the daily chart has oscillated around the MA120 after the spike. If it cannot return to the range, the risks remain significant.

Bitcoin

The daily chart of Bitcoin has been testing the support around 107000 for the past few days, which was also the support level in August. The daily chart is oscillating between MA120 and MA200, and the weekly chart has broken below the middle Bollinger band. If it cannot return above 114000, the market will still be dominated by bears.

● Support: 101516 to 103470

● Resistance: 114000 to 116000

Ethereum

Since Ethereum broke below the range on the 11th, the weekly chart has shown a double bearish signal with a bullish candle in between. The MACD has continuously remained below the zero axis, with the fast and slow lines crossing; the daily chart has slowly shifted from the previous range oscillation to a downward channel, overall still leaning bearish. In the short term, it is also advisable to wait patiently for opportunities.

● Support: 3435 to 3640

● Resistance: 4110 to 4300

If you like my views, please like, comment, and share. Let's navigate through the bull and bear markets together!!!

This article is time-sensitive and for reference only, updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Public account: BTC Trading Prince Fusu

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