Bitcoin Technical Analysis (BTC).
Let’s start our market point with an analysis of the price of Bitcoin (BTC) monthly view. The latter allows the macro scenario for this asset to be understood.
Within 15 days, the latter should be closed and the level to be maintained is easily identified. A close of less than $ 35,000 would signal a much bigger step for the price.
Basically, The next macro-price zones are between $ 20,000 – $ 9,000. These areas correspond to the level of the former ATH on the one hand, and the impulse of the bullish movement on the other.
Figure 1: Analysis of Bitcoin (BTC) in 1M
Now let’s zoom in on the weekly scene to clarify this. What is very clear now formation range between $ 31,200 – $ 61,800. In this zone, the price moves erroneously between the two limits. Let’s take this range into context, namely, after a significant bullish step.
It is still too early to say whether we are in a reconstruction or distribution phase, and the two results are different.
Figure 2: Analysis of Bitcoin (BTC) in 1W
This range is specified on the daily scene, and we can note two things:
- The price missed the final low level at $ 37,250, confirming a downturn,
- For the price to resume its upward path, he will have to cross $ 47,000.
Currently, the price is still very bearish suggesting that any rise this week will be a bearish move.
Figure 3: Bitcoin (BTC) Analysis in 3D
The 4h view will give us the same kind of information with local levels that would indicate the possible reset phase.
$ 31,600 Recovery, which would allow us to move back towards the $ 37,300 – $ 40,000 level.
Figure 4: Analysis of Bitcoin (BTC) in 4 hours
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Ether Technical Analysis (ETH).
Our next analysis will focus on the price of Ether (ETH). As with Bitcoin, the price of the monthly view The same structure follows.
The latest minimum at $ 2,250 shows us the last zone that allows the price to maintain its micro-experience structure. In the event of closure below this level, a more important case of gravity will occur. The first purchase zone is about $ 1,110 and the latter at $ 225.
Figure 5: Ether (ETH) analysis in 1M
On the weekly scene, the price also creates a range that ranges from $ 2,000 to $ 4,000. Close to below $ 2,000 will be the first bearish signal that will trigger the larger fall scenario.
Meanwhile, this technical point It should be possible to see rebounds even in the short term. We will have to stay alert to the closure and the information the daily unit can give us.
Figure 6: Analysis of Ether (ETH) in 1W
Again, this unit of time allows us to identify 2 important areas:
- The price lost its last low at $ 2,490, confirming its continuation
- So that the price touches the upper limit of the range, the latter will have to close over $ 3,500.
Figure 7: Ether (ETH) analysis in 3D
For rebound, the price will be at a reset stage. At the 4h scene, we can notice the $ 2,400 zone that will allow us to go back to $ 2,700 – $ 2,900 initially. As long as this zone is not crossed, the price may continue to fall towards new supports.
Figure 8: Ether analysis (ETH) in 4 h
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Courses of Bitcoin (BTC) and of Ether (ETH) present on their lower limits and the end protection zone. In the case of downward movement, the deeper case for gravity occurs, with minimum targets at $ 20,000 for Bitcoin and $ 1,100 for Ether.
The price may rebound during the week in the current zone, but we will not be able to consider this as a structural rise. We must first address the latest highs to reverse the current bearish pattern. Any rebound should be considered a simple change, so it is best to make a quick profit.
Limit exposure while waiting trend back movements then it seems mandatory for less experienced actors.
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Chartered Sources: TradingView
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