Crypto Overview: BTC/USD and ETH/USD
Technical Analysis Bitcoin: To 30,000 for a bounce then further lows, but the 30k will be a sticky number, however, the sellers are in control
Technical Analysis Ethereum: Expect a drop lower to 1500.
Bitcoin Elliott Wave: Wave iv of (iii) of iii).
Ethereum Elliott Wave: Wave (v).
Trading Levels Bitcoin: 30,000 is Major level 3 (TL3|30,000) then down towards 28,000 Minor Level (MTL8).
Trading Levels Ethereum: Time at 2000 (Major level TL2|2,000) to develop as support or resistance.
Fibonacci Bitcoin: Support is the 32000 which is the 61.8% retracement level as the support.
Fibonacci Ethereum: 1720 - 1650.
Bitcoin Trading Strategy: Short new lows.
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
This week could be explosive for ETH: Ethereum ETFs to debut in the US on Tuesday
Ethereum (ETH) is down nearly 1% on Monday as the Securities & Exchange Commission (SEC) confirmed via its website on Tuesday that it has given the final approval for spot ETH ETFs. Considering the ETH ETF launch and the upcoming Bitcoin Conference, this week could prove crucial for Ethereum.
SEC gives final approval for Ethereum ETFs to begin trading
The Securities and Exchange Commission (SEC) approved the S-1 registration statements of spot Ethereum ETF issuers on Monday, making it the second digital asset ETF to go live in the US, according to the latest filings on its website. The approval is also visible across the websites of the various asset managers that applied for the product.
Could Donald Trump and Elon Musk provide Bitcoin's bullish spark?
Trump could use Justice Department's 200,000 BTC as headstart for potential Bitcoin reserve, says analyst. Elon Musk hints at potential Bitcoin endorsement after US dollar value destruction post and laser eyes profile picture. The bearish crowd has remained silent since Bitcoin's two-week rebound.
Crypto investment products continue positive run after $1.35 billion net inflows
CoinShares' weekly report shows that crypto investment products saw a third consecutive week of inflows. Bitcoin saw inflows of $1.27 billion, with short-bitcoin recording more outflows. Ethereum-based products outperformed Solana on year-to-date inflows.
Bitcoin: Will BTC continue its bullish momentum?
Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.