BTC market

Bitcoin went down very badly. The lowest point was near $50000. After that, the price bounced back very fast and now we are around $57000. At present, it is difficult to say which way the market will go because we still don't know if that was the final bottom. The overall bearish sentiment is strong, and the market is returning slowly so if the price breaks our resistance line at $57900 and will somehow maintain this level then we should see an upward trend to continue. If we won't maintain this level or we won't even break it we should see a downward trend to our support level at $56100, and from this place, the price should bounce between these two levels ($56100-$57900) but there is also a high chance that price will go even lower.

ETH market

In the case of Ethereum, we have the same situation. The price down very badly then bounced back and now we are between two lines. Our resistance line is at $2296 and our support line is at $2175. If the price falls below the $2175 in the future, you can consider the downtrend to continue and if we break and maintain $2300 level we can consider that we are back on track.

DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.