Trade-in for Bitcoin (BTC), Ether (ETH) late

Bitcoin Technical Analysis (BTC)

Let’s start with Bitcoin (BTC), which gave us a nice gift for these holiday season. Indeed, the weekly closing Sunday was made above the level of $ 50,100. This level was a first stage to reboot the uptrend. It was part of the first dam in the long climb waiting for us (a resistance).

The theory of the trough higher than the preceding ones on the macro structure is likely to come true now, but we will still need regain certain levels important premises.

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Bitcoin (BTC) analysis in 1W

Let’s zoom into the daily view to further clarify our analysis.

The area identified in the past weeks is still valid and will play a crucial role.

As a reminder :

• The shopping area is always between $ 46,000 – $ 48,300
• The first one shorts area is at $ 53,900, regaining it would take us to the next
• The last zone important is to $ 58,000, if the latter is taken again I expect a new ATH
  

? How to short a cryptocurrency (bet on its decline)?

However, this unit of time only gives us an indication middle term on the situation. I therefore find it interesting to zoom in further to refine our strategy.

Bitcoin (BTC) analysis in 1D

The 4h view gives us important information to be able to position ourselves. We notice that the lateralization phase (tidy) that we had identified plays its role perfectly. Indeed, the bottom of the range had allowed the prize to make a screenplay in double hollow (double bottom).

He also achieved (for Christmas) the identified goal. the top of the range, Oh good rejected the award as we had talked about. For now I expect a delay between the middle and the top of the range (between $ 48,700 and $ 51,900).

the strong signal of recovery will be on the break by the top of this range. While waiting for a response, we apply the range strategy, that is, we buy the low to sell the high (unless we want to build a longer term position).

Bitcoin (BTC) analysis in 4 hours

Ether Technical Analysis (ETH)

Now let’s move on to Ether (ETH).

The identified area repeatedly to $ 3,900 remains valid, and the weekly closing Sunday was once again made above. There is currently no additional information to add on this unit of time. As they say, otherwise it remains bullish.

Ether Analysis (ETH) in 1W

We will have to zoom in on the grouping in 3 days to clarify our analysis. We had identified the $ 3,900 – $ 4,100 zone as a pivot. Losing her would take us to the next one shopping area which is located $ 3,300 – $ 3,100.

What I observe as it is is that the course has just made its bearish retest on the pivot area. Indeed, one can clearly see a bullish retracement on the last hollow lost to $ 4,050. If we follow this logic, the next move should be a loss of new low at $ 3,850 and thus a loss of the pivot zone.

I had mentioned the possibility of a test of the next shopping area, and this is the scenario that gradually seems to emerge. It could be that the course does not succeed to cross the $ 3,850 which would be a very strong signal to place themselves at the purchase.

In all cases, Ethereum stay in a neutrality zone and is still not doing very well at clear his tendency. It will be necessary to remain patient in order not to take a bad position. Let the coming week pass to see how the price will evolve in order to offer (or not) better opportunities.

3D Ether Analysis (ETH)

Avalanche Technical Analysis (AVAX)

To end this column, I wanted to give you the analysis of the Avalanche token (AVAX) which is technically perfect.

The price is in bullish pattern for months now, but still respects very well the break + retest principles that we mention in each column.

Here, the course had succeeded in breaking its last peak of $ 80 in November 2021. Since the price had never returned to this zone to confirm this breakout, it had only gone straight in the direction of the $ 150.

The fall of early December allowed the course to procrastinate to perform its retest who served as shopping area for many large wallets. Now what we want to see is a clean break from the new summit to $ 125 in order to continue this uptrend. The theoretical objective would be to $ 180 – $ 190 to begin with.

In case failure here, the price would end up in a situation of ” swing failure pattern More commonly known as double top or double top. It is a very classic figure of reversal which will change the trend bullish bearish macro.

What seems to me more likely currently is a rebound on the current $ 114 zone to come and get a new ATH (new historical high).

3D Avalanche Analysis (AVAX)

In conclusion

We observe a nice reaction on the side of Bitcoin (BTC) and less on the side of Ether (ETH). Now I expect a retracement on Bitcoin to come out of small wallets in order to create liquidity. Nevertheless, I remain bullish in the medium term, and I think the $ 53,900 / $ 58,000 will office of resistance in the short term. For Ether (ETH), the situation being different, a retracement deeper may be expected if the area of $ 3,850 is lost.

For the token Avalanche (AVAX), the configuration also remains bullish. One purchase here remains very consistent from a price discovery perspective (price discovery).

I take this opportunity to wish you all a happy end of the year. See you next week for a new analysis.

It was cryptOdin to serve you.

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