Both Bitcoin and Ethereum are sitting at technically identical junctures to October 2023, when a falling trend line from the all-time high converged with ascending channel resistance — a setup that looked certain to break lower before resolving sharply to the upside. Risk models currently read Bitcoin at 28 and Ethereum at 27, levels historically associated with accumulation-phase valuations rather than cycle tops.
For Bitcoin, the critical line in the sand is $68,000 support, with moving average support stacked at $71,000–$72,000. The next few sessions will determine whether bulls defend those levels and force a breakout above current resistance, or bears push cleanly through to trigger a deeper retest.
Ethereum's structure is arguably cleaner. Tom Lee's Bitmine added 101,900 <a class="ticker-mention" href="/en-US/token/eth">ETH</a> this week alone, bringing its total stack above 5 million and staking $214 million worth — a conviction…
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