Here are the long term levels for the markets and some scenarios to look for.


Bitcoin

The long term swing point is 43,500 and they are below all the short term retracements, so the next big level is 28,300, this is 61.8% of the ATH and the 2018 low. What you want to see if they make a new low and hit 61.8%, is that they get right back above the previous low and then above the 200 day at 34,600. Provided this did happen you could look for a quick move up to the long term swing point that will be lowered with the new low. With a solid close below 28,300 look for 78.6% at 18,400.

Ethereum

The long term swing point is 2740.00 and it is also below all the short term retracements. It already hit 61.8% of the ATH and 2018 low on 5/24/21 and went back up to the long term swing point. Being the low was 61.8%, it can always trade below it, but the close is key, so if it makes a new and close's back above it, that should mark the bottom for now and you can look for the long term swing point. With a solid close below 61.8% look for 78.6% at 1000.00.

If Bitcoin and Ethereum make new lows, here are some key levels in other markets to look for support.


Litecoin

The long term swing point is 230.00 and 78.6% of the ATH and 2018 low is 106.95

Ripple

The long term swing point is 1.15 and 78.6% of the 2021 high and 2020 low is 0.52.


Dogecoin

The long term swing point is 0.42 and 78.6% of the ATH and the 2020 low is 0.16