Is the recent upward trend of Bitcoin over? I don't think so.

Currently, Bitcoin has broken below the bearish flag pattern and is testing the key support level at 80,800. If this level cannot hold, it will move downward to test the support at 79,600, and once 80,800 is broken, the upward trend will be directly disrupted, and the price may fall into a range-bound consolidation zone with fluctuations.

For those who are doing short-term trades during this correction, it's best to exit quickly, or you'll risk getting trapped! Many people in the market are saying the upward trend is over, but that's not true at all. As long as the hourly level does not break below 78,200, the hourly upward trend remains intact, which is a normal retracement after a big rally.

After such a long rally, a correction of over a thousand points is completely normal. It’s also impossible for the market to only rise without any adjustment. Don’t think that a decline means a trend reversal; there are not that many reversals. As long as Bitcoin stays above 80,800 and doesn’t break below, it won’t continue to retrace, and there will be a rebound to the upside later.

Currently, Bitcoin faces resistance at 81,300, 82,200, and 83,540, with support levels at 80,800, 79,500, and 78,400.

Looking at Ethereum, its trend remains weak and unable to gain momentum. The previous two bullish candles pushed it up, but then a large bearish candle crushed it down, breaking the flag pattern and losing the support at 2,345. The current market is likely heading toward the support at 2,300. If 2,300 can hold, the market will be fine; if it breaks further, it will head straight to 2,250, and the hourly trend will weaken significantly.

Right now, the zone between 2,345 and the lower boundary of the flag at 2,360 is Ethereum’s resistance zone. Only by returning to this range can the decline be halted. A rebound can only occur if it re-enters the flag pattern; if it cannot recover, short-term prospects will be bleak. In trading, it’s better to watch more and act less, waiting for signs of stabilization before making a move.