Find regularly Technical analysis of the Bitcoin (BTC) price and other flagship cryptocurrencies such as Ethereum (ETH).. But also videos to introduce you to some technical indicators, tips or more fundamental approaches. All this with the aim of remain clear and accessible so that you can learn the fundamentals of commerce. And to benefit from the advanced analysis of experienced traders.
Full video of this analysis of the Commerce on the corner at the end of the article.
In this new technical analysis of the cryptocurrency sector, Bitcoin’s situation will be discussed first In weekly and daily time units. With the possibility of a rebound towards $25,000, which is yet to be confirmed. And we will also talk about Ethereum and the BNB cryptocurrency.
Bitcoin – Possible rebound to $25,000?
In weekly time units, Bitcoin has not offered much to say for several months now.. With BTC still in its range, stuck between the $18,500 support and the $25,000 resistance. A lower level first tested in mid-June this year. And after the rally to $25,000, a price that has been stuck around $20,000 since last August.
However, a short-term buy signal appeared last week in the price of Bitcoin.on the daily time frame. But this is not really visible on the weekly chart. Because BTC is still in its range. With perfectly flat Bollinger bands. But, after last week’s close, a possible bounce attempt. With, why not, a return to the $25,000 resistance level. This does not allow for the moment to project in the long term, as it would be necessary to break this fateful level first.
Bitcoin – Buy signal on the daily time frame.
A much clearer situation in the daily time unit. Because in this case it is possible to see this famous buy signal that occurred last week.. With $18,500 support tested many times since the establishment of this range. And a final daily time unit buy signal obtained around July 18. This followed a break of the top of the Bollinger Bands and a break of the top of the last two highs. But all this in a clearly bearish setup.
And the situation is different in this case. Because this buy signal has just been issued after a prolonged range situation.. In other words, a consolidation period more spread out over time and, as a consequence, much tighter Bollinger bands. A lack of volatility that clearly favors this upward movement for the time being, which is still short-term. Knowing that within the CryptoFund of coin trading, this buy signal corresponds to a 100% return on cryptocurrencies.especially in Ether.
Ethereum – Increased risk of invalidation.
Still in daily time unit, the buy signal is much more obvious on the Ethereum side.. With a former resistance turned support, located at the $1250 level. And since its rebound at the $2,000 resistance, a period of consolidation that extended between two perfectly flat Bollinger Bands. With, on the day of Tuesday, November 25, a strong momentum candlestick that put an end to this situation..
A near-perfect buy signal, as it accumulates a lot of data to validate its application. With a much more expressive price in the case of the ETH cryptocurrency.After going from $1400 to over $1600 in this period. And a favored position to be bought, probably towards the $2000 resistance. Although the risk of invalidation is higher than for Bitcoin, because the rise recorded in recent days has been greater.
Knowing that in both cases (BTC and ETH). a reintegration of the ridge would sign the end of this wave.and the possibility of visiting even lower levels.
NBB – Awaiting possible consolidation.
In the case of the BNB cryptocurrency, its support level ($260 approx.) dated back to May 2021. The latter has been tested numerous times in the last few months alone. With Bollinger bands tightening and volatility dropping significantly. In other words the perfect setup to see this bullish momentum candlestick emerge, which also occurred on Tuesday, October 25.. With a price that pushed much higher than in the case of Bitcoin and even Ethereum.
Yes, that’s right, the BNB cryptocurrency price is already at its resistance level around $330. The latter has made several tests since last May. This makes entering this cryptocurrency much more complicated, as the level of disqualification is extremely low. And although the sense is still buyerThis does not mean that we should take a position immediately. With at least a consolidation to wait below this resistance to see how things evolve.
TOTAL2/BTC – Very interesting setup.
Finally, a quick look at the TOTAL2/BTC chart which allows you to define. the performance of altcoins compared to Bitcoin.. With, in weekly time units, a very interesting pattern as well. Because the cryptocurrency market curve, excluding BTC, seems to be heading back towards its historical resistance, in place since 2018. With a range in place since mid-May 2021. And the prospect of retesting this fateful level..
Knowing that in this new figure case, you have to notice a difference in size. This with Bollinger bands which for once are very tight.. With successive retests much faster and more frequent. And the very prospect of eventually breaking through that level of resistance once and for all, in order to To see altcoins definitively outperform bitcoin.. And thus enter a new bull market period. But there is no excitement for the moment, as many signals are still missing to validate this option with more certainty.
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Trading cryptocurrencies carries a high level of risk, and may not be suitable for everyone. It is recommended to be well informed of the associated risks, and only invest amounts that you can afford to lose.
The content provided on the CryptoActu.com website is for educational and informational purposes only. It does not constitute a recommendation and cannot be considered as an inducement to trade financial instruments.
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