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Have Fun With A Quiz in Gate Chat Group & Unlock Big Rewards!
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2026 starts with this post!Gate 2025 Year-End Gala Square TOP50 List Announced!
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The downward trend in the cryptocurrency market continues, with significant declines in Bitcoin and Ethereum prices midweek. Both BTC and ETH saw their gains from earlier in the week completely reversed. Bitcoin fell below $94,000, while Ethereum dropped by $112 during the day.
Technical analysis shows a bearish trend on the daily chart and a downtrend channel on the 4-hour chart. Critical support levels to watch include $93,000 and $92,000 for Bitcoin. Short-term trading strategies should focus on buying in the $92,500-$92,800 range and selling at higher levels to adapt to the downward trend.
Investors should be cautious and trend-focused in their strategies due to the high volatility in the cryptocurrency market. It is important to conduct thorough research before making any investment decisions. This information is for informational purposes only and not investment advice.#BTC #ETH