Bitcoin and Ethereum Prices Expected to Dip Before Bull Market

The Victory Coin Team's King of Coins expects a dip in Bitcoin and Ethereum prices before a potential bull market. He advised layering longs between $77,200-$76,600 for Bitcoin and between $2,415-$2,385 for Ethereum, both of which reached their targets.

Today, the price of Bitcoin peaked near $79,100 and Ethereum at $2,430, before correcting lower. King of Coins recommended short positions on both assets, with a stop loss near $78,600 for Bitcoin and around $2,480 for Ethereum.

The market's current development matches expectations, according to the analyst. However, he notes that most attached indicators are leaning bearish, suggesting a high probability of further downward movement.

King of Coins advises traders to prioritize short positions on both assets, with longs being secondary and only half the size of shorts. He also warns against trading outside of these identified levels, stating that 'only consistent trading logic stands up to scrutiny.'