Bitcoin (BTC) and Ether (ETH) Still Under Resistance – Is Falling Inevitable?

Après le piège haussier, le Bitcoin (BTC) et l

Bitcoin Buyers Traps And Head Down Again

Although a majority of cryptocurrencies a certain bullish momentum saw itself recover in the short term, with a falling wedge breakout at h4, the market finally turned around very quickly, which the resistance against $ 40,000.

Figure 1: Bitcoin price chart (h4)

However, the course of Bitcoin (BTC) managed to remove the bullish event bevel, thanks to the weak passage on the cloud. But it was at the opening of American markets on Thursday that the price fell violently again with a daily red candle -10.87%the day after the nutrition announcement of a further 0.5% rate increase.

After breaking a low trend taken over several weeks, the BTC thus yesterday’s bearish target was pulled by $ 34,000 approx. This corresponds to height triangle at his entrance, carried over to a place of breaking. Price target corresponding to previous market low point, made last January. If this support were successful at $ 34,000, there would be a level $ 31,500 would be in the line of sight then (next support).

Thus the bullish case in the medium term unfortunately forgotten? It would seem so. It is crucial that the price goes back above its previous high $ 40,000. As long as this resistance is not broken, the cryptocurrencies They should continue their downward trend. If, in spite of everything, Bitcoin was to go back above this key level, then the prospect would be open for a possible return $ 42,000.

👉 Find our guide to buying Bitcoin (BTC)

Ether keeps firm, but still at the end of compression

As the BitcoinEther (ETH) price finally fell back within its shares descending bevelafter false outbreak.

Figure 2: Ether price chart (ETH) in h4 by Tagado

Figure 2: Ether price chart (ETH) in h4

Although theETH it seems to be trying to break its bevel from below, the bullish scenario seems to be in good danger as it would be necessary to go back to the previous high point at $ 2,970. Resistance that will be hard enough to overcome now from the cloudIchimoku rather thick, reinforced by the Tenkan and the Kijun on the road.

So the short – term priority scenario will be bearish, with a target at $ 2,330 approximately when the bevel is drilled from below.


an Bitcoin and theEther they failed to preserve their bullish signals. The major releases that have taken place over the last few days suggest that the decrease should continue on the cryptocurrencies.

👉 Follow our section dedicated to technical analysis

Chartered Sources: TradingView

Newsletter 🍞

Get a crypto news feed every Sunday 👌 And that’s it.

What you need to know about affiliate links. This page presents assets, products or services related to investments. This article contains some affiliate links. 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. You are not affected 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 may not be responsible, directly or indirectly, for any damage or loss that has occurred following the use of the product or service highlighted in this Article. . Investments involving crypto-assets are dangerous in nature, readers should do their own research before taking any action and only invest within the limits of their financial capacity. This article is not investment advice.

About the Author: Tagadó


I have been passionate about cryptocurrencies since 2017 and am an avid defender of knowledge sharing, I am a Youtuber, a crypto analyst and a regular trader. Each week, my role is to inform you about technical analysis by giving you my perspective on the price evolution of Bitcoin and ether, using my favorite indicators like the Ichimoku as well as chart patterns.
All articles from Tagado.

More and more Bitcoin on the encrypted exchanges!  Will the accident reach $ 30,000?

More and more Bitcoin on the encrypted exchanges! Will the accident reach $ 30,000?

Terra (LUNA) Overcomes Tesla, Becomes Second Largest Bitcoin Holder

Terra (LUNA) Overcomes Tesla, Becomes Second Largest Bitcoin Holder