What is the latest situation for Bitcoin and Ethereum?
Data from different parts of the world affect the course of the markets. Here is the latest situation.
Yesterday, the US markets closed the day with decreases, with the evaluations of major companies on the economic outlook for the upcoming period and the expectation that the US economy will enter a recession. According to the foreign trade data released in China this morning, the country's export volume contracted by 8.7% on an annual basis in November. It experienced the fastest decline seen since February 2020. Import figures in China also decreased by 10.6% in the same period. The weak outlook in foreign demand and the fight against the epidemic point out that the negative course in the economy continues.
What is the latest situation for Bitcoin and Ethereum?
The revised growth data for the third quarter to be announced in the Euro Zone today come to the fore. According to preliminary data, the Eurozone economy is expected to grow by 2.1% on an annual basis in the third quarter of the year. During the day, the S&P500 Volatility Index (Fear Index) increased by 7% and showed activity at 22.16 levels. Bitcoin, which has increased its correlation with the Nasdaq again in the US markets, is priced at $ 16700 with withdrawals of around 2% in the morning today. Ethereum is also at $1220 with a pullback of close to 4%.
Bitcoin, which has been in an uptrend since November 21, is priced at $16750 by testing the trend line in the morning today. We can say that we are in a critical period for Bitcoin, which is moving slightly below the trend line. If Bitcoin fails to hold the $16670 levels in the downside movement, a harder pullback can be seen. The next support levels are $16220 and then $15600. If it clings to the $16670 levels, if there is an upward movement, the $17000 level can be met again as a resistance.
Ethereum, which is in an uptrend with bitcoin, tested the lower band of the channel for the 5th time while moving within a very healthy channel. With a firm move, the breakdown turned to the downside. If Ethereum fails to hold the $1215 level in the continuation of the downward movement, a pullback to $1182 and then $1155 can be seen. If it can hold the $1215 levels, it can be expected to be included in the channel again. For this, we can say that the resistance level is $ 1265. If it breaks above this level, the important resistance level of $1280 can be tested.
