By skyforbes 
BTC
BTC price shows clear fatigue after experiencing interest rate cuts and earnings conferences. The previous rally now appears to be just a dead cat bounce. The price broke through the previous high on October 27 but encountered resistance at $116,400 and fell, with sluggish trading volume during this rally, indicating insufficient bullish momentum. Subsequently, the price continued to decline until it dropped to $106,304 yesterday before rebounding.
The failure to break through the previous high and the consecutive breach of the secondary high at $114,000 is a typical 2B pattern, and the subsequent downward trend is expected. Currently, the price has broken below the triangle pattern, and it is anticipated that the price may continue the previous downward trend.
At the time of writing, it is temporarily reported around $109,000. Investors can choose to enter a short position at market price or set up short orders between $110,000 and $111,350. This range is approximately equivalent to Fibonacci 0.618 to 0.5 and is also a high trading volume area. Take-profit targets can be set in batches at $106,300, $103,600, and $102,000. Stop-loss can be chosen based on personal risk tolerance, such as $113,700 or $116,500.
Reference Points:
l Direction: Short
l Entry: $110,000 — $111,350
l Take Profit: $106,300 / $103,600 / $102,000
l Stop Loss: $113,700 / $116,500
ETH
ETH’s trend is similar to BTC’s, both breaking upward through the triangle before encountering resistance and falling. However, ETH’s trend is weaker, as the price fell without even touching the previous high, indicating poor bullish momentum. The price has now reversed and broken below the triangle pattern. If the price retraces to test the resistance, it is an opportunity to enter a short position.
At the time of writing, it is temporarily reported around $3,820. Investors can set up short orders between $3,950 and $4,030. This range is approximately equivalent to Fibonacci 0.5 to 0.382 and is also a high trading volume area. Take-profit targets can be set in batches at $3,680, $3,450, and $3,400. Stop-loss can be set above $4,160.
Reference Points:
l Direction: Short
l Entry: $3,950 — $4,030
l Take Profit: $3,680 / $3,450 / $3,400
l Stop Loss: $4,160
Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.