BTC Bitcoin (1 Hour Chen Theory)

From the 1-hour chart, after the previous high point of 87399 formed an increase, it constructed a high-level central region of 85000-87100. The market has directly dropped below the lower edge of this central region, simultaneously breaking the upward trend line, which is a standard central breakout trend. Short-term resistance: 83800-84300, this is the first rebound resistance after the breakout; strong resistance above is 85000. Short-term support: 82200-81700, this is the next key support range; if this support is lost, the lower target looks towards 80000-80500, the previous central lower edge.

ETH Ethereum (1 Hour Chen Theory)

ETH and BTC have a highly correlated trend. After completing the 5-wave increase to the high point of 2806, it constructed a fluctuation central of 2630-2746. The current K-line has broken through the lower edge of the central region downward, leading to the end of the upward structure and the start of a downward correction. The key resistance above is 2630; if it cannot stabilize above the daily central upper edge of 2560-2350 mentioned in the previous analysis in the short term, it will further open up downward space.

In summary, the BTC ETH hourly level has completed the 5 waves and the high-level central has broken down, with short-term bears in the dominant position. If the rebound cannot recover the central region, it will continue to look for a decline and adjustment.

Personal opinion, for reference only.

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