Bitcoin/Ethereum's early trading session ended a multi-day consolidation with a sharp decline. The overall downside potential remains significant. After the recent dip, the market has entered a sideways consolidation phase again. The daily chart is also approaching the lower Bollinger Band. Pay attention to the support levels around 63,000 and 1,830. If the support holds, the market could continue to rebound and rally, and this rebound after the dip could go even further. From a technical perspective, the "Big Pie Auntie" pattern formed a head after reaching a high in August last year. The current neckline is around 63,000 and between 1,780 and 1,800. Although there is some decline, both bulls and bears are still engaged in a tug-of-war at this level. In the short term, strong support is near the neckline.
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Bitcoin/Ethereum's early trading session ended a multi-day consolidation with a sharp decline. The overall downside potential remains significant. After the recent dip, the market has entered a sideways consolidation phase again. The daily chart is also approaching the lower Bollinger Band. Pay attention to the support levels around 63,000 and 1,830. If the support holds, the market could continue to rebound and rally, and this rebound after the dip could go even further. From a technical perspective, the "Big Pie Auntie" pattern formed a head after reaching a high in August last year. The current neckline is around 63,000 and between 1,780 and 1,800. Although there is some decline, both bulls and bears are still engaged in a tug-of-war at this level. In the short term, strong support is near the neckline.