How are Bitcoin and Ethereum ending the week?
Bitcoin and Ethereum have started the new year on a good note, here is the weekly analysis.
Bitcoin, which recovered in the first place after the FED minutes yesterday and moved to $ 24,500, later lost some strength due to the FED's letter to banks about cryptocurrencies and the US data did not come as expected.
Bitcoin, which is stuck under the middle band of the channel in which it is active and priced below the critical zone of $ 24,000, can start a pullback towards $ 23,450, which is the lower band of the channel, if it cannot hold. this region. If the perception turns positive, it could start a move above the mid-band of the channel at $24,250.
Bitcoin and Ethereum weekly analysis
Entering the weekend, Ethereum, which was rejected from the six-month resistance level of $ 1,700, just like Bitcoin, has been experiencing a partial decline for three days. We are at critical levels for Ethereum, which found buyers in the $1650 region in the morning. In the next pricing, Ethereum can record a pullback to the $ 1,600 levels, which is both the 50-day average and the upper band of the falling channel, in negative pricing. On the upside, the $1,700 region above remains the main short-term resistance level for Ethereum. It is also necessary to consider the fact that Ethereum may lose strength in any case where the $1,700 level is not exceeded.
