Sepoy-logo
No Result
View All Result
Sunday, January 29, 2023
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
No Result
View All Result
SEPOY.NET
No Result
View All Result
Home Crypto

Bitcoin (BTC) and Ether (ETH) Confirmation Time – Bullish Reversal or Rejection Ahead?

Nicholas by Nicholas
October 28, 2022
in Crypto
0

After a great bullish week for the cryptocurrency market, Bitcoin (BTC) and Ether (ETH) are regaining interesting levels and are preparing to retest significant resistance. Will cryptocurrencies finally validate a short-term market reversal, or are we close to another rejection?

READ ALSO

The White House calls for better regulation of cryptocurrencies in 2023

What is an Ethereum Improvement Proposal (EIP)?

L’heure des confirmations pour le Bitcoin (BTC) et l’Ether (ETH) – Retournement haussier ou rejet à venir ?

Bitcoin is trying to break through its midrange

This week the bitcoin price (BTC) finally started to rise again with the price now moving above $20,000.

If this rebound is encouraging, it is still necessary to remain vigilant on these levels which do not yet validate a trend reversal. Clearly, BTC price remains flat inside a multi-month consolidation and amid crises.

If we want to review cryptocurrencies in a real bullish momentum, we will already have to see a return of substantial buying and selling volumes which would allow the price to go up to the upper part of the range.

Figure 1 – Bitcoin Daily price chart

As we have already pointed out in previous analyses, the market maintains a bearish structure with lower and lower tops, inside a long-standing downtrend. To get a change in structure and be able to look for nice bullish setups, we would have to see the price of Bitcoin go back above $22,500.. This zone corresponds to the last local high point and would coincide with a return to the upper part of the range with the cloud which would become support.

In the meantime, the objectives remain at $16,130 (Ascending Wedge), then $14,400 (Bearing Flag). In this context, a retest of 21,600/$22,000 remains likely, but a major rejection could be generated due to the top of the cloud which is providing resistance to the price.

Bitcoin price chart H4

Figure 2 – Bitcoin h4 price chart

On the H4 timeframe, a short-term target was activated at the $23,150 level following the breakout of the triangle from above. The problem remains the presence of two notable resistances on the way : the Tenkan Weekly at $20,415 then another flat Tenkan Weekly at $21,655 (both in red on this graph).

This Ichimoku curve, just like the Kijun, represents important resistances that should not be overlooked, and therefore a risk here for the price to be rejected. Despite this bullish breakout, it is therefore advisable to be vigilant and to consider a very probable rejection of the price around $21,655 if he manages to break the first resistance Weekly.

👉 Find our selection of the best sites to buy Bitcoin

Access our group made up of Vincent Gane and our fundamental and on-chain analysis experts on the Toaster. Our experts provide you daily with exclusive information and analyzes on the crypto market to optimize your knowledge!

Join Experts and a Premium Community

PRO

Invest in your crypto knowledge for the next bullrun

toaster icon

Ether (ETH) ready to head back towards $2,000?

the course of ether (ETH) managed to touch our determined bullish target last week and is now showing another triangle breakout this time in Daily.

This triangle sits right in the range and could help ETH reach the top of its range at $2,000. But before that, it will obviously also be necessary to break the Tenkan Weekly resistance from above at $1,625 (also corresponding to the top of the cloud, which is currently acting as resistance).

Ether price chart

Figure 3 – Ether price chart (Daily)

If the price breaks this resistance, then ETH should rally back to the top of the range at $2,000 as the Tenkan Weekly will provide support. On the other hand, in the event that the crypto were to face a rejection, there would be a good chance of finally going for the bottom of the range this time around at $1,000.

cryptoast logo

The No. 1 exchange in the world – Regulated in France

Binance

-10% off fees with code SVULQ98B 🔥

toaster icon
Investing in cryptocurrencies is risky (learn more)

Conclusion of this technical analysis

Bitcoin and Ether show first signs of a return to bullish momentumbut remain under significant weekly resistance.

The breakout of the latter would validate structural reversals and would therefore offer good prospects for the future. As long as prices remain under resistance with ever lower tops, then the risk of falling will remain high.

👉 Find our explanatory guide to buy Ethereum

Chart sources: Trading View

Newsletter 🍞

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

author profile picture

Passionate about crypto-currencies since 2017 and fervent defender 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 point of view on the evolution of the price of Bitcoin and Ether, using my favorite indicators such as the Ichimoku as well as chartist patterns.

Source

Related Posts

The White House calls for better regulation of cryptocurrencies in 2023
Crypto

The White House calls for better regulation of cryptocurrencies in 2023

January 29, 2023
What is an Ethereum Improvement Proposal (EIP)?
Crypto

What is an Ethereum Improvement Proposal (EIP)?

January 29, 2023
Bitcoin (BTC) and Ether (ETH) Consolidate – Calm Before Heading Higher?
Crypto

Bitcoin (BTC) and Ether (ETH) Consolidate – Calm Before Heading Higher?

January 28, 2023
Azuki’s Twitter account is hacked, several NFTs and 0,000 are stolen
Crypto

Azuki’s Twitter account is hacked, several NFTs and $750,000 are stolen

January 28, 2023
Comment les NFTs et le Web3 stimulent-ils la créativité dans l’industrie musicale ?
Crypto

Comment les NFTs et le Web3 stimulent-ils la créativité dans l’industrie musicale ?

January 28, 2023
FTX: Sam Bankman-Fried tries to influence witnesses, his conditions of detention could change
Crypto

FTX: Sam Bankman-Fried tries to influence witnesses, his conditions of detention could change

January 28, 2023
Next Post

Musk era begins: A new era for Twitter

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Roblox Is Unbreakable Trello Is this safe?

Roblox Is Unbreakable Trello Is this safe?

November 4, 2022
Discord Registered Games  Discord Registered Gaming You need to join the Club

Discord Registered Games Discord Registered Gaming You need to join the Club

November 4, 2022
How To Chose the Right Data Analytics Program

How To Chose the Right Data Analytics Program

November 4, 2022
Chandrashekhar Guruji Wiki, Age, Girlfriend, Wife, Family, Biography & More

Chandrashekhar Guruji Wiki, Age, Girlfriend, Wife, Family, Biography & More

November 4, 2022
Heavy explosion on market square in Halle – three injured

Heavy explosion on market square in Halle – three injured

November 4, 2022

EDITOR'S PICK

Ukraine: Russia is shelling cleared areas in Kherson

Ukraine: Russia is shelling cleared areas in Kherson

November 12, 2022

Are hot brushes less damaging than straighteners?

May 12, 2022

How Yachts Can Utilize Renewable Energy Sources

April 29, 2022

Save On Transportation Costs While Traveling

September 20, 2022

About

Sepoy.net is a perfect place for people who want daily updates on news related to business, technology, entertainment, health, cryptocurrency etc.

Contact: [email protected]

Major Categories

News

Business

Tech

Economy

 

Recent Posts

  • Pregnancy has no effect on long-term immune response to SARS-CoV-2 mRNA vaccination
  • Israel after the attacks: A country in a hyped atmosphere
  • Services That Make Your Transportation More Convenient!

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • DMCA
  • Home
  • Privacy Policy

© 2022 Sepoy.net

No Result
View All Result
  • Home
  • Business
  • News
  • Health
  • Tech
  • Science
  • Lifestyle
  • Travel

© 2022 Sepoy.net