Bitcoin (BTC) and Ether (ETH) must maintain support and rebound to remain bullish

Bitcoin must bounce back $43,000

After breaking his daily triangle last week, the price of Bitcoin (BTC) was finally rejected at the level of $48,000† Which then caused the price to move within the triangle again, which finally made buyers doubt again.

Bitcoin’s Daily Chart (Daily)

Despite an explosive bullish exit from the price in this triangle, the Bitcoin is currently on his daily kijun† As a reminder, this curve of theIchimoku is a support important in an upward trend. As long as the price remains above the closing candle, the trend that has been going on for several weeks will continue. Not really a concern so in the near future this to withdraw which can be interpreted as a breath of fresh air from the market.

However, the coming days are likely to be decisive, as in the event of a confirmed Kijun breakout from below, the cloud’s turn towards $40,000 the price could pick up as this level is a very weak support space that the . could leave BTC go back to a new low.

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Ether is retreating

After breaking his decently For several weeks, the price of Ether (ETH) will return to test its new support, bolstered by the Kijun

The Chart of Ether (ETH) in Daily by Tagado

The chart of Ether (ETH) in Daily

In the coming days, theEther absolutely have to hold the Kijun until $3,039† If the price stays at this level, it’s just a matter of taking a breather from the market, just like on Bitcoin, before returning to our targets on $3,768 thereafter $4,571

However, in the event that the price were to fall below the Kijun again, the probability of a return to $2,800 strong, at the risk of going back through the cloud twist† The cloud then acts as a resistance, it becomes more difficult for theETH Leave.

Finally

After some good comebacks in recent weeks, cryptocurrencies correct. Every move in the market, be it bullish or bearish, will experience a correction† However, as long as the price of cryptocurrencies remains above the Kijun Daily, bullish targets will remain active.

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About the author : tagado

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Passionate about crypto currency since 2017 and avid advocate of knowledge sharing, I am a Youtuber, crypto analyst and regular trader. Every week my role is to make you aware of technical analysis by giving you my opinion on the evolution of the price of Bitcoin and Ether, using my favorite indicators such as the Ichimoku and chart patterns.
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