BTC consolidates about $ 30,000
This week, the price of Bitcoin (BTC) continued its wide range $ 30,000 weekly support. A main level which will once again take place next Sunday at the sound of the weekly candle.
Figure 1: Bitcoin weekly price chart (Weekly)
Already last week in our previous analysis, we talked about the importance of price closure inside the rack built for several months on the Bitcoin. A level that has never been achieved on a weekly closure and which always allowed the price to go to new price records.
The scenario is so simple, the price will have to re-enter the range to then try to return to the Tenkan around the $ 37,500. For a bullish rebound thanks to the support of the $ 30,000we then note a turn on the cloud in July, which may well gradually attract the BTC for a retrial of this level. Of course this area will be monitored in due course, should the recovery occur.
If, on the other hand, the price was to break its support in the last few months, then it would be necessary to rely on the one to be done. $ 26,000or even the one at $ 22,800 to help recover the price.
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Bitcoin breaks a reversal pattern upside h1
In the short term, the BTC which develops in a range between $ 27,800 and $ 32,000 after breaking expansion bevel in yellow. We also see that the orange trend is broken and then retested in withdrawal twice, indicating the relevance and strength of this support.
Figure 2: Bitcoin price chart (h1)
As in theory this type chart figures often breaks from the top, so we can expect a return on the price above the $ 34,000 (height of the bevel at its exit, shifted to the break position). A goal in line with returning to the Kijun daily and weekly.
Break the $ 32,000 which would be a good sign for a bullish rebound in the short term and would allow us to reintegrate weekly range including the bullish case of the Week. However, the bearish breakout remains to be watched, in an unstable economic context in which skepticism and uncertainty are mounting. The bracket to $ 28,000 in blue, on which we have already had multiple rebounds in the past, h1 urgently needs to close or risk invalidating the target at $ 34,000.
Ether (ETH) back soon towards $ 2,500 in the short term?
Like last week, the course Ether (ETH) always shows us a descending pattern expansion i h1. This chart figure is broken from above, the lens is $ 2,593 in action now.
Figure 3: Ether price chart (h1)
To achieve this goal, however, the level of $ 1,900 it continues to provide support, as it has done many times in the past. After pulling back on the upper part of the pattern, the price goes back above its cloud, along with the Tenkan and Kijun. Supports are thus added to the trend line.
If the price is onEther falls back below its previous low point at $ 1,836on the other hand, there would be a risk that the price will move towards the next supports at $ 1,580 even $ 1,400.
Completed
The IS cryptocurrencies they seem to want to hold on to their respective supports. You will have to wait for the weekly closure find out if the Bitcoin range will be maintained with a potential bullish return, or if the price is headed for bearish new days.
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Chartered Sources: TradingView
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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.
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