Both Bitcoin and Ethereum have extended their retracements into the past 24 hours, puncturing price thresholds that many technical analysts had deemed as important support levels. Bitcoin has slipped below $110,000, while Ethereum has also broken beneath the $4,000 price level.

The most recent correction questions the durability of the uptrend and whether this is a corrective pullback or the beginning of an extended downtrend. The charts of both assets, however, offer technical signals that point to the next direction for price action.

Bitcoin Is Testing Range Highs And Trend Anchors

Technical analysis laid out by TraderMercury on the social media platform X noted that Bitcoin is currently bouncing from the previous range highs, along with the 12-hour 200MAs trend. In

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