Skip to main content

BITCOIN AND ETHEREUM CHART ANALYSIS – POSITIVE WEEK?

 


Bitcoin has moved little over the weekend. Our CME Futures GAP (institutions don't trade on weekends) is around USD 29,200, so it's still a bit below us and could still be filled.


We are currently trading around $30,100 in a symmetrical triangle. We have been consolidating in this for some time and could break out to the upside later today.


However, this requires a significant increase in trading volume. This had recently decreased further and has not yet confirmed a valid breakout. The probability of a fakeout is high.


Right now we can truly say that the probability of a breakout to the upside is 50/50, so we need to look closely at the resistances and support zones.


The resistance to the top is significantly greater. Directly above us there is a strong resistance zone up to around USD 30,800, which has already been tested twice. However, a 4H close above this zone is very important for a sustained breakout to the upside. Then courses up to 35,000 USD are in it.


We have support down to around USD 28,800. However, this has been tested many times and is therefore not strong. Another retracement would likely mark the break and we are very likely to see the $24k – $25k range again. That's where most of the liquidity is.

For Ethereum, we see more of a sideways consolidation phase. Here we have significantly fewer swings up or down than with Bitcoin. The volume is very low.


We're currently trading at around $2,000. The resistance to the upside is very strong and must be broken as the volume increases. Initial resistance is around USD 2,100 and goes up to around USD 2,400. Only after this zone do we have a little more breathing space.


On the downside, the support zones leave a lot to be desired. Our big wick from the sell off has the most liquidity. Thus, there is still a higher chance that we will first grab the area around USD 1,700 before breaking out to the upside.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin
Post a Comment
Read more

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon
Post a Comment
Read more

British financial regulator criticizes cooperation between Binance and Paysafe

  The British financial regulator FCA has expressed concerns about the partnership between market-leading crypto exchange Binance and payment service provider Paysafe. As the British regulator complains, the partnership gives Binance access to the influential British payment network Faster Payments Service (FPS), from which the crypto exchange was previously cut off. Last June, the FCA ordered Binance to stop all business activities in Great Britain. As a result, prominent banks such as Barclays have terminated their cooperation with the leading crypto trading platform . Through the cooperation with Paysafe, Binance can now again offer deposits in British pounds sterling and transactions within the European Payments Area (SEPA). However, this fact is a thorn in the side of the FCA, as it classifies the crypto exchange as a “considerable risk factor”. However, the financial regulator sees little room for maneuver to counteract this, as the Financial Times reports . “ Paysafe understands
Post a Comment
Read more