BITCOIN AND ETHEREUM DECISIVE PHASE

Bitcoin and Ethereum are now facing important resistance. After our support zones stopped and we saw a bounce here. How does it go from here? Which zones will be crucial now?

Bitcoin is at an important resistance after our support held at around USD 55,000 and we saw a nice bounce from here, we are now at around USD 58,500.

At the same time, we are now in a crucial phase. We have already been rejected on our bull flag/downtrend and the trading volume was not particularly high to get through such resistance.

Now it is important that we leave this zone behind us as quickly as possible and not see a sale in deeper regions again.

I currently have two options for the weekend or the next few hours. Either we are now experiencing another sell-off and once again confirm the area around USD 57,000, where our monthly support P is located.

Another possibility would be for us to leave the resistance behind and move from here towards USD 63,000 - USD 64,000 in a crucial zone for the further course of the bull market.

Because here is our golden pocket (0.618 - 0.65 Fib. Retracement level). Should we be rejected here, that could mean the end of the rally for now. But it's still too early for that.

Ethereum has managed to recover much faster than Bitcoin in the last few hours or days and is already back in the area of 4,400 USD. We are currently at around $ 4,358.

Most recently, we were turned back on our new, smaller Uptrend channel. Thus, this uptrend is initially a resistance. Here, too, we have to pay attention to the direction in which Bitcoin is headed.

It is important for ETH to be able to maintain and consolidate this level before we can expect another run-up.

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