Bitcoin (BTC) and Ether (ETH) are still under resistance

Le Bitcoin (BTC) et l

This week, Bitcoin (BTC) and Ether (ETH) failed to overcome significant resistance. Should we expect a new drop in the coming days? Update on the various objectives and levels to be monitored.

The underlying trend remains bearish on Bitcoin (BTC)

This week, the price of Bitcoin (BTC) consolidated around 16,800 dollars with resistance still: the Tenkan, the Kijun then Cloud the Ichimoku indicator in Daily. In this configuration, it seems that it is still difficult to imagine a bullish rally as long as the price remains under all these curves since they are characterized by possible levels of significant rejection.

Figure 1 – Bitcoin daily price chart

👉 Buy cryptos with the eToro referral broker

The platform to simplify trading

Buy crypto in minutes

toaster icon

Until price manages to re-enter the large blue rectangle that encompasses the previous consolidation (range), the price will remain at risk of falling towards our initial target at $14,300. This follows the breakout of the Bear Flag (drawn in yellow in the figure above) and punctured from below last August. It was the subject of a declared withdrawal (repeat on the lower limit) in September.

In addition, the previous fall that occurred at the beginning of November has been corrected by 50% (to be rejected precisely at this level which also corresponds to the Kijun-Top of the cloud alignment), which is not a very good sign. . Basically, if the price were to break $15,600, a new Bear Flag would be activated, with a target of $13,500.

To invalidate the bearish scenario we are seeing, the price would have to go back above the cloud at $18,500 and above all go back to the upper part of the previous range around $22,000. to signal a trend reversal with a new high higher than the previous one. But we are still far from it and the odds are still on the downside at the moment.

👉 Find our selection of the best sites to buy Bitcoin

The exchange No. 1 in the world – Controlled in France

10% off fees with code SVULQ98B 🔥

toaster icon

Ether (ETH) continues its path towards $1,000

Since our analysis last week, the price of Ether (ETH) has indeed confirmed the breakout of the triangle we found on the 4-hour time unit. This yellow chart pattern is a continuing triangular compression of sorts that continues a long downtrend. The exit below was the most likely one, and we can now expect a high probability that the price will return to the bottom of the rectangle at $1,080.

Ether price chart (H4) at Tagado

Figure 2 – Ether price chart (H4)

The target of this triangle is actually a bit lower towards $1,030, which would mean the range would be breached from below, with new downside targets to be set if that happens.

To invalidate the ongoing decline, the price would need to retrace above $1,340 to finally break a larger triangle, with the help of the cloud which would once again be an important support.

👉 Find our explanatory guide to buying Ether

cryptoast logo

The exchange No. 1 in the world – Controlled in France


-10% off fares with code SVULQ98B 🔥

toaster icon
Investing in cryptocurrencies is risky (more information)

The conclusion of this technical analysis

Bitcoin and Ether still maintain an underlying bearish trend and the price continues to progress towards the breakout targets initiated in our previous analyses.

💡 Get access to our premium group consisting of Vincent Gane and our experts on fundamental and chain analysis. They deliver you daily information and exclusive analyzes of the crypto market to optimize your knowledge!

Advance in the world of cryptocurrencies with Cryptoast experts 📘

toaster icon

Chart source: TradingView

Newsletter 🍞

Get a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services related to investments. Some links in this article are affiliates. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no influence on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be responsible, directly or indirectly, for any damage or loss incurred after the use of a product or service highlighted in the This article. Investments involving crypto-assets are inherently risky, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, high risk is associated with a product with high return potential. This risk must be in line with your project, your investment horizon and your ability to lose some of these savings. Do not invest unless you are prepared to lose all or part of your capital.

To go further, read our Financial Status, Media Transparency and Legal Notices pages.

Ethereum Staking Bild

ETH Price Prediction: Ethereum Payments Visa Plans – Will the Price Rise to $1,630?

Ethereum Price Prediction: Bullish Breakout Despite FTX Crash?

Ethereum Price Prediction: Bullish Breakout Despite FTX Crash?