Deceleration for Bitcoin (BTC) and Ether (ETH) – Towards a retracement?

Bitcoin (BTC) Technical Analysis

Last week, we talked about the beginnings of a bullish movement after a break from the top of the range. Since then, the price of Bitcoin (BTC) has managed to make an impulsive upward movement. Let’s now focus on the potential of future movements, in order to find interesting entry and exit points.

The weekly view will give us little information compared to last week. Nevertheless, we can already see the return of this bullish trend. Two points should be noted:

• Resistance zone at $46,500 : it currently maintains the price locally;
• Resistance zone at $51,500 : will play a pivotal role to see or not see a bullish continuation.

Analysis of Bitcoin (BTC) in 1W

The daily view will specify the movement in progress. On this unit of time, the price is currently between two areas of interest. The first between $49,000 – $52,000and which was considered to be a sales area. This zone will be important, as it will allow the price to continue its rise towards the ATH in the event of an upside breakout.

The second zone is located between $41,500 – $44,000. It corresponds to the old top of the range which, once broken, allowed the price to resume the upward path. This area will be used at least for retracement point of the upward movement.

Personally, it is the third zone that will interest me. It is located at $37,500 – $40,000and constitutes the zone housing the orders of the large portfolios.

The latter may have several names, but above all it highlights an area which served impulse to a movement, in this case to an upward movement. So I expect to see a structural rebound between $38,500 and $39,000.

Bitcoin (BTC) analysis in 3D

Let’s zoom in again on the 4 o’clock view. The latter confirms the situation in which Bitcoin is evolving. The price is currently on its demand area and seems to start a distribution. On shorter timeframes (1h), the price is clearly on a local downtrend.

Indeed, the price has established a higher high and the price has started its distribution. This converges for the moment with the idea of ​​a deeper correction on our order block area. As long as the $47,700 are not taken upwards, the price will remain in a configuration of bearish retracement.

Analysis of Bitcoin (BTC) in 4H

Ether (ETH) Technical Analysis

For its part, the price of Ether (ETH), seems slightly different, although correlated. On the weekly view, the price also manages to extract itself upwards from its range by initiating a expansion phase.

Again, we can see 2 areas that will impact the price:

• The sales area at $3,900 – $4,150,
• The area regained at $3,400.

However, the macro remains bullish too, and seems to want to punish the late entrants in order to create enough liquidity for a bigger upside rally.

Analysis of Ether (ETH) in 1W

On the daily view, the price is also bullish. We can identify 3 interesting areas for the rest of the movement:

• The first, an area of saleit is located at $3,900 – $4,150;
• The second, an area purchasetakes place between $2,900 – $3,100 and matches the old range;
• And the third, in zone purchasetakes place between $2,500 – $2,700 and corresponds to the beginning of the movement.

It is highly likely that the price will establish its next low on the third zone. Thus, the latter will have all the necessary strength for his next movement.

Ether (ETH) analysis in 3D

The 4h view will clarify our analysis. We find our supply zone in the same place, and 3 new points will guide us on the future.

The $3,000 show us a point of purchase interesting corresponding to last local vertex. The area of demand Between $2,650 – $2,750 matches the area that contained the accumulation of the bullish movement. And finally, the area of $2,500 which remains the zone to hold so as not to lose this bullish structure.

We therefore have attractive buying points to play on while controlling our risk.

Analysis of Ether (ETH) in 4 hours

Dogecoin (DOGE) Technical Analysis

Today I offer you an analysis of the king of memes, namely the Dogecoin (DOGE). I am aware that many actively trade it, and many have it in their portfolio. I will therefore focus today on the long-term vision, and not on its short-term speculation.

On the daily viewthe price of Dogecoin is clearly in downtrend. I have noted a number of elements on the graph for you. The yellow rectangles (imbalance) correspond to liquidity areas that the prize will have to come and visit. This is due to the power of the movements, regardless of their direction. Once visited, these areas are considered filled and no longer represent a valid indication. This imbalance is accompanied by an unvisited movement start zone (order block).

I perfectly imagine a scenario where the price of Dogecoin returns to the orderblock zone at 0.057 – 0.067$ before resuming the path of the rise up to $0.21 approximately (+220%) to finally resume the downward path in order to fill the lowest areas at 0.0073 – 0.0089$.

Once all these areas have been visited, the price will be able to accumulate in this low zone before actually resuming the upward path.

Dogecoin (DOGE) analysis in 3D

Conclusion

the Bitcoin (BTC) and theEther (ETH) continued to rise well last week after the break in their range. Now the price has reached sales areas local authorities which should allow during retrace bullish excesses. It therefore seems logical that the price initiates a local downtrend to the point of purchase.

For the Dogecoin (DOGE)the price remains in a macro downtrend, and the price approaches shopping area interesting for a medium-term movement. On this basis, it is possible to make a first purchase towards the $0.057 to follow this bearish retracement.

It was cryptOdin to serve you.

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