🚨#ETH VE #BTC PRICE ANALYSIS🚨
Bitcoin price analysis
Bitcoin has been stuck in a tight range between $71,770 and $68,359 for the past few days, indicating indecision between bulls and bears.
BTC/USDT daily chart. Source: TradingView
In general, a tight consolidation near the tops is a positive sign as it shows that the bulls are holding their positions and are not rushing towards the exit. The ascending 20-day exponential moving average ($67,274) and the RSI in the positive zone suggest that the bulls have the advantage.
The BTC/USDT pair will continue its uptrend if the price breaks above the resistance zone between $71,770 and $73,777. This could open the doors for a rise to $80,000.
Instead, if the price turns lower and breaks below the 20-day EMA, this will indicate that the bulls are taking profits. This could sink the pair to the 50-day simple moving average ($61,107).
Ether price analysis
Ether (ETH) is trading in a tight range near the overhead resistance at $3,678, indicating a solid fight between the bulls and bears.
ETH/USDT daily chart. Source: TradingView
The 20-day horizontal EMA ($3,527) and the RSI near the midpoint do not give a clear advantage to either bulls or bears. If the price rises and rises above $3,678, the ETH/USDT pair could climb to $4,100. The bears are likely to form a strong defense at this level, but if the bulls break through to the top, the rise could reach $4,500.
Alternatively, if the price turns down and breaks below $3,460, it would signal that the bulls have given up. This could start a decline towards the 50-day SMA ($3,324). This level is likely to attract buyers, but a weak bounce from this level will increase the chances of a decline to $3,000.
