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BITCOIN AND ETHEREUM CHART ANALYSIS - DUMP IN THE BEAR MARKET?


 

Bitcoin and Ethereum are testing critical support. Will breaking these levels get us into the bear market? What is important now for the further process and which support zones do we still have?

Bitcoin is currently in a sideways phase. We haven't seen much movement in the market since the weekend. We are currently at around $ 40,200.

Our support zone continues to last up to approximately USD 40,200. This should not be broken either, otherwise we will see significantly lower prices approaching us again.

The 4H-EMA ribbons continue to represent resistance and the trading volume is also decreasing. The RSI has bounced back a bit and is now in neutral territory.

For Bitcoin it will remain important not to break through the USD 40,000 for a long time. If this zone breaks, a quick sell-off in the region could bring us to $ 38,500.

There is the monthly support S1 and another support zone. However, should we manage to break the $ 43,500 area sustainably, we could see a quick bounce towards $ 46,000.

At the moment there is still uncertainty in the market. The Fear & Greed Index (mood) is also at 10. So there is extreme fear in the market and this is no longer exploited until it is possible.

We are also seeing little movement in Ethereum. After reaching our low of around USD 3,000 over the weekend, we are currently at around USD 3,100.

The 4H-EMA ribbons are also located above us as a resistor. The trading volume is also falling significantly. We have formed a bullish crossover in the MACD.

Ethereum has to recapture the area around 3,200 USD in the short term in order to be able to approach the area around 3,400 USD. If we don't manage to sustain USD 3,000, we can drop to around USD 2,700 and test the next big support.

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