#BTC #ETH Bitcoin fell 15,000 points in just one week last week, and 25,000 points in the past two weeks – a truly terrifying rate of decline! Today is Monday, and it's uncertain whether the US stock market will continue to fall. Bitcoin has already dropped to around 74.5k, and we wonder if the previous low will provide strong support.
Looking at the daily chart, the 0.618 level has been broken, and it's approaching the 0.786 level. Therefore, based on our previous analysis, the only strong support level to watch is the 0.786 level around 65,500. For short-term resistance, we should watch whether it can return above 80k, with the key resistance zone around 82,500.
Ethereum has also followed suit with a significant drop, reaching a short-term low of 2200, breaking the 0.618 level, and is very close to the 0.786 level at 2095. Due to some whale liquidations, it's advisable to refrain from trading for now, or simply follow Bitcoin's trading strategy.
Bottom-fishing advice: I already discussed bottom-fishing suggestions with friends around 76k for Bitcoin during the day. Buy some at 76k, some around 72k, and some below 60k. Remember, the only cryptocurrency we can truly believe in is Bitcoin. If Bitcoin can't rise, then we're doomed!