Bitcoin and Ethereum technical analysis
Bitcoin and Ethereum have been showing some positive signs with the new year. The market has been incluenced well.
Bitcoin is priced at $ 23000 during the day, receiving rejection from the $ 23200 level that it tested on the seventh day. When the daily chart is analyzed, it can create a bullish expectation in the event of the “Golden Cross”, the situation where the 50-day moving average crosses the 200-day moving average upwards.
Bitcoin, which started to create a channel with its upward movements, seems to have tested the lower band of the channel during the day. It will be important to break the $23200 level and make daily closes above it for the upwards to continue. If this level is exceeded, a rise to $24000 and then to $25200 may be accompanied.
Bitcoin and Ethereum technical analysis
If it fails to break the $23200 level and in case of a downward movement, $22430 and then $21520 levels can be expected to act as support.
Ethereum is priced at $ 1580 during the day, not being able to sustain above the $ 1600 level. The “Golden Cross” seen in Bitcoin can create the same expectation on the Ethereum chart. In an upward movement, $1597 level and then $1680 level can be expected to act as resistance. Exceeding these levels may support the rise up to $1790.
In the continuation of the downward movement, $1505 and then $1460 levels can be expected to act as support. If it fails to hold on to these levels, $1420, the 200-day moving average, appears as an important support level.
