On falling, Bitcoin (BTC) and Ether (ETH) are dangerously close to unattainable key levels. What scenarios should one be aware of?
BTC is testing the eruption of its triangle
This week, the price of BTC finally dropped again and is now moving within one continuation triangle. If in general this type of pattern breaks in the direction of tendency previous, however, should we expect a drop to the bottom over the next few hours or days?
Figure 1: Bitcoin h4 price chart
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On the h4 chart is the price of BTC has been in a pinch for several days where the price is less and less volatile. If the price were to give up its sideways support at $ 19,000there would be a high probability that Bitcoin returns to find the level of $ 15,577 ca. (the target must be adjusted according to the location of the eruption, which corresponds to the height of the triangle).
But the price has risen from its low trend linethere is always a chance that the price again manages to move back towards the top of triangle. In this hypothesis, when the compression ends, it would be possible for the price to break through its resistance from above, with a bullish target of $ 25,697 about.
It will therefore be absolutely necessary to keep the price close above $ 19,000 to maintain the opportunity to rise again in this market.
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Ether (ETH) back to $ 800?
regarding Bitcointhis week, the price of Ether (ETH) is trying to rise again side support and avoid the bearish outbreak. But this type chartist figure are more likely to break on the downside.
Figure 2: Ether price chart (h4)
The level of $ 1,000 will therefore be to be seen in the coming days, because if it should give in, we would have a very good chance of getting a new fall in the direction of $ 776 approximately (the height of the triangle indicated by the fracture). It will then be necessary to keep this level close and start again in the direction of its upper limit triangular standto try to break resistance at $ 1,300.
In the event that the price manages to break beyond this pattern despite the bearish probabilities, we could then aim for a return to $ 1,723.
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that Bitcoin andEthereum both compress inside bearish patterns and would risk breakdown in the next few days. Therefore, be careful in this market, which does not yet really show any rejection signals.
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Chart Sources: TradingView
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