Bitcoin / US Dollar
Price Analysis
The last days remained silent for Bitcoin's price as the price remained around $ 9,600. The parallel channels didn't break 3 days after the $ 10,000 resistance broke, which means that bullish investors having troubling to increase their positions in Bitcoin while bearish investors didn't liquidate their entire positions on Bitcoin. At this moment, the situation looks very liquid as there is no clear indicator of Bitcoin's price in the next days. The volume is hitting bottom so no sure trend has been established through that.
The Fibonacci retracements may offer an alternative solution for predicting the next case for Bitcoin's price. While the two main values of the retracements, 0 and 1, are exactly on the parallel channels (value = 0 and the price at $ 8,600; value = 1 and the price at $ 10,000), the golden ratio (value = 1.618) is at $ 10,700. This means that a potential breakthrough in the next days may reach Bitcoin's price at higher levels, even for a day.
In the short-term diagram, we can observe clear congestion in the parallel channels. The last bottom was around 10 days away at $ 8,600, forming an uptrend channel until today. In the meantime, another resistance -- support level has been created inside the parallel channels around $ 9,400. The new level is practically in the middle, serving as a standing point for the price while climbing up and down during the last month.
Indicators
MACD index is moving near zero, showing that the momentum created in the last was lost due to the lack of volume and decisive moves. In contrast with the previous index, the RSI index shows a slight decline around value = 55, a move that could be characterized as bullish, showing that there is room for more investors to enter the market. We foresee the next days for a clear signal regarding Bitcoin's moves.
Ethereum / US Dollar
Price Analysis
The similar stability seems to be established in the Ethereum market. The new level has been established with slightly more volume than the normal while the same level has been tested in early-March. Gaining more profits in the next days seems nearly impossible while a surprise move might get the expectations differently. A possible downturn could stop at $ 220, the previous resistance point while there are more support levels in the bearish scenario.
Indicators
MACD index is showing a clear momentum for Ethereum as in the previous positive MACD's round, the cumulative return reached 75 %. The index shows that there is a possibility for another bullish run but the fundamentals are weak for this to happen. According to the RSI index, there is little room for more uptrend as its value in near 60. Gaining more on the RSI index would be a bearish signal that may back off any momentum strategies, applied at this moment.
