After the false break of 42500 short-term resistance, Bitcoin dropped hard and at the moment of writing is trading at 36k, with a more than 15% drop in 48h. Although the overall trend is grossly bearish, short-sellers should be very careful to an aggressive short-covering rebound. I expect extreme volatility for the Crypto market and I will try to speculate on this possible rebound. 32k-25k old congestion zone can be a good zone to look for a reversal. 38500-39k zone is now resistance and extends slightly above 40k.
Ethereum:
As usual, EthUsd dives more than Bitcoin, with a more than 25% drop in 48h. Here also a short squeeze rally is possible and a revisit of 2750 now resistance 2400 and slightly under is where I will look for speculative buys.
Keep in mind that the trend is strongly down and my suggestions are very risky
Both Bitcoin and Ethereum are showing identical patterns off today's low of either a triangle (3,3,3,3,3) or a flat (3,3,3). If a triangle wave d is in progress and will terminate under b then form e from above c, then a thrust up eventually depending if e also forms a triangle. If a flat a-b-c completed, then a sharp 5 wave advance, more immediately bullish. Either scenario obviously the low must hold. Since there has been a multitude of fake breakouts, the safest entry is waiting for the initial 5 waves to complete then making a lower risk entry on a 3 wave correction.
slimbha30
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With the current volume 40K is like asking for a 100K tbh