BitcoinShort
Bitcoin & Ethereum Approaching Crucial Levels
Yesterday's CIP numbers gave the starting sign for a dip. Bitcoin dropped below 60k and Ethereum below 2.7k.
As mentioned in several posts and explained in detail in yesterday's newsletter, this wasn't that notable. In terms of Bitcoin, the price action between 58k and 60k doesn't say anything. In terms of Ethereum, this accounts for the price action in the flag pattern.
However, the slow bleeding led both assets to approach these crucial lines: BTC trades at 58.3 at the time of writing, and ETH almost touched the bottom trend line.
Therefore, this day could become interesting. A break below the mentioned levels (and confirmation on a higher timeframe) could signal a breakout and trigger downward price action.
In terms of Bitcoin, the next target is located at the bottom of the major bull flag (54k), whereas the price of Ethereum might dip to 2.4 and 2.1 subsequently.
Be careful and monitor the levels closely!
As mentioned in several posts and explained in detail in yesterday's newsletter, this wasn't that notable. In terms of Bitcoin, the price action between 58k and 60k doesn't say anything. In terms of Ethereum, this accounts for the price action in the flag pattern.
However, the slow bleeding led both assets to approach these crucial lines: BTC trades at 58.3 at the time of writing, and ETH almost touched the bottom trend line.
Therefore, this day could become interesting. A break below the mentioned levels (and confirmation on a higher timeframe) could signal a breakout and trigger downward price action.
In terms of Bitcoin, the next target is located at the bottom of the major bull flag (54k), whereas the price of Ethereum might dip to 2.4 and 2.1 subsequently.
Be careful and monitor the levels closely!
I'm Ben. Crypto lover, trader, and coder.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I'm Ben. Crypto lover, trader, and coder.
Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com
🔥 For exclusive content: newsletter.bencrypto23.com/exclusive
Join my free newsletter for insights and the hottest trade setups every weekday!
newsletter.bencrypto23.com
🔥 For exclusive content: newsletter.bencrypto23.com/exclusive
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.