Three times the BTC bounced from the support of $9300, creating a bearish triangle pattern. The current price is facing with strong resistance at $11100, close to the downtrend line. We suggest traders avoid buying at the moment. In order to enter the uptrend, Bitcoin needs to break the $11100 level and touch the $12000 level then retest. When the price retest,...
ETH is still in a strong downtrend. We do not see any bullish signal at the moment. In order to enter the bull market, ETH must breakout the $ 230 resistance level. However, this is very difficult. The next two support levels of ETH are at $ 150 and $ 124. The support of $ 150 is relatively weak. I suggest traders wait to buy ETH at $124.
- If 1D closes below $10950, it's still in bearish - For new uptrend, it should break above $10950.
- Rising wedge - Strong resistance at $9850 - Strong support at $9110
1. Main trend: Bearish 2. Breakout falling wedge (above $11300) would be bullish 3. 1D close under $9850 we will see it at $9357 4. Close under $9357 we will wait at $7600