Bitcoin (BTC / USD), Ethereum (ETH / USD), Alt coin price, chart and analysis
- Bitcoin multi-month endurance testing.
- Ethereum continues to respect the boundaries of channels.
- The rally of alt coins continues unabated.
Another positive week in the cryptocurrency area, where prices continue to move higher and back to the peaks of several weeks and several months. Compared to 7 days ago, Bitcoin and Ethereum are + 14% and + 16% respectively, while the bottom coin market has seen even greater gains. The decline in liquidity over the weekend may in one way or another lead to excessive steps, so traders should be cautious about pricing over the next 48 hours.
Prices through CoinMarketCap.
As mentioned earlier this week, the bullish pennant formation is playing in the daily Ethereum / Bitcoin spread chart. A confirmed break higher — Ethereum outperformed Bitcoin — is likely to increase the bottom coin rally even further and bring the game to a 733 and 775 ETH / BTC spread.
Ethereum / Bitcoin Daily Spread (November 2020 – August 13, 2021)
Chart through @IG.com
Bitcoin prints another positive week, the fourth in a row, but it is currently difficult to find resistance between $ 46,500 and $ 46,800. This resilience is further enhanced by the 50% Fibonacci retracement level in mid-April / end-June sales, which is set at $ 46,800. It is also difficult for Bitcoin to take a clean break and open it above the 200-day moving average. If Bitcoin can take out these two technical indicators, the rally should get a new impetus back to $ 50,000.
Bitcoin daily price schedule (February – August 13, 2021)
Ethereum continues to respect the support and resistance of the channels as it approaches the level last seen three months ago. The Ethereum chart is slightly more positive than the Bitcoin chart, with the current price above all three simple moving averages in a positive order, aided by a golden cross at the beginning of the week. If Ethereum continues on an upward trend, due to the angle of the channel, Ethereum is likely to break above the current cluster of peaks.
Ethereum daily price schedule (December 2020 – August 13, 2021)
What is your view Bitcoin and Ethere – bullish or bullish ?? You can let us know via the form at the end of this article or contact the author via Twitter @ nickcawley1.