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BITCOIN & ETHEREUM CHART – BREAKOUT!



Bitcoin and Ethereum have launched a successful breakout attempt. Is that the end of the sideways phase and we continue the bull run? Or do we have to reckon with lower rates after all?

Bitcoin has managed to break through two important resistances. After we first broke our upward downtrend yesterday morning, it was the turn of the big falling wedge tonight .

The trading volume wasn't really breakout suspicious, however. At the moment we are at approx. 49,100 USD and thus in the middle of our thick resistance zone, which goes from 48,800 - 52,000 USD.

First of all, it is important that we are not sold off again and that Bitcoin can maintain this level, whereby the RSI in the 4H chart is already scratching the overbought area and thus at least a short correction is possible.

Now that Bitcoin is experiencing significant resistance, it will be crucial whether we still get enough momentum or trading volume so that we can quickly leave these resistance zones behind us.

We always want an impulsive move for an outbreak. A creeping outbreak with no significant volume could mean weakness and thus one gear lower for Bitcoin.

Our support zone is still valid and a new test up to approx. 46,700 USD is possible. From here, Bitcoin then has to try again upwards.

Ethereum also finally made it out of the falling wedge and erupted yesterday after we tested our red support zone again. We are currently at around $ 4,040.

On the 4H chart we can see that we were last rejected on the S1 monthly resistance. This is also where our 6H resistance zone is located, which has also been tested.

At ETH, our chart pattern has not yet been retested, so there is also the possibility of a smaller setback in the area of ​​USD 3,900. Here are the 4H-EMA ribbons as support.

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