Continuation of the range – An exit for Bitcoin (BTC) and Ether (ETH)?

Bitcoin (BTC) Technical Analysis

Let’s start with Bitcoin (BTC) price analysis on the view weekly. As we have seen the last week, the latter is trapped in a range on this view. The fencing which took place yesterday gives no more indications than that of last week.

Indeed, the bottom of the range, identified with $29,600, plays its role perfectly by containing the bearish assaults. As a reminder, a break below would take us to a deeper retracement with the primary objective being theold ATH at $18,900and second the demand zone between $11,500 – $14,000.

Figure 1: analysis of Bitcoin (BTC) in 1W

Then let’s go to the view Daily. The latter shows us a correct hold of this bottom of the range. We can issue the hypothesis of one bullish retracement of the last downward movement. If the latter were to take place, the first objective would be the last trough that was lost. It corresponds to the area of $37,200.

The second zone that I would observe corresponds to the last summit at $47,000 which, once resumed, would allow for a bullish recovery.

Figure 2: Bitcoin (BTC) analysis in 3D

More locally, the view in 1 hour tells us about the current market. The price has, again, printed a accumulation range in which he has been wandering for 2 weeks now. Its lower terminal takes place on the $28,700 while its upper limit is located at $30,700. A first phase of DETOUR on the upper limit could be observed, and the latter remains since then not revisited. This could allow the price to return to this zone before moving back into the buying liquidity zone and then entering a larger bullish retracement.

Figure 3: analysis of Bitcoin (BTC) in 1 hour

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Ether (ETH) Technical Analysis

Let’s continue with the price of Ether (ETH) and its view weekly. The latter follows very well the movements of the Bitcoin without, however, succeeding in surpass. It is also stuck between the two terminals of its range, with a resilience of the latter as it approaches its lower limit.

As a reminder :

  • Lower terminal -> $1,880
  • Upper bound -> $4,000
  • Former HUD -> $1,300
  • Request area -> between $420 and $490

Figure 4: analysis of Ether (ETH) in 1W

View Daily will specify the areas that we will have to observe to understand the current movements. The loss of last low at $2,500 restarted the bearish momentum with selling pressure. To take over a structure, the price will have to regain its last high at $3,520.

Figure 5: Ether (ETH) analysis in 3D

The 4h view shows us the presence of a new range. It will be necessary to monitor the next movements of the latter because it could offer a buying opportunity for a short-term retracement to the $2,300.

Figure 6: analysis of Ether (ETH) in 4H

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Technical analysis of Sushiswap (SUSHI)

Today I chose to talk to you about Sushiswap (SUSHI) on his sight Daily. The price is currently trending bearishand we can affirm this thanks to the succession of peaks and troughs lower than the previous ones.

The price seems like attracted to the area impulse of the big bullish movement. This area takes place between 0.47 – 0.62$. Nevertheless, it is possible to consider a bounce in the short term for the latter to come and look for liquidity seller necessary to develop this last bearish phase. This area is located at 4.15 – $4.79and will constitute a very interesting area for saleor a catch of short position and against the market.

Figure 7: Sushiswap (SUSHI) analysis in 3D

Conclusion

the Bitcoin (BTC) and theEther (ETH) remain stuck in their micro ranges on the lower limit of the macro ranges. This is a delicate situation for the majority of operators on the market because the volatility of these phases is extremely low. It therefore implies a development more slow and more erratic for all, and many will grow impatient before the resolution.

For Sushiswap (SUSHI)the configuration bearish remains valid and respected. A bounce technical could take place in order to create enough liquidity in the market to resume the initial movement. The buy zone that I will observe is at 0.47 – 0.62$ and will make it possible to constitute a long-term position.

It was cryptOdin to serve you.

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Graphic sources: TradingView – cryptOdin

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