Bitcoin / US Dollar
Price Analysis
The weekend was a stable time for Bitcoin's price as there was no significant traction or move that change the scenery. The price remained at $ 9,700, without any signal for a major move in any direction. A stable period was often followed from a sharp that will shape the next period, on the bullish or the bearish side.
In the last month, Bitcoin's price reached three peaks after three consecutive bottoms from $ 8,600 to $ 10,000. The time between the bottom and the peak was the same as indicated from the triangles. Those moves created a parallel channel that predicts a decisive move. The direction of the move will be determined from the previous indicators like volume or different news, floating during this period.
We can examine some bullish and bearish scenarios for the future. The most prominent bullish scenarios indicate a $ 10,000 resistance break, which will happen in 2 phases. The first phase will stand around $ 10,500, while the second phase will stand around $ 11,500. On the bearish side, the drop will lay below $ 7,000, even stopping at $ 4,000. The bearish scenario looks more possible if the price fails to rise volumes and determine its direction in the next period.
In the short-term diagram, we can observe that a small parallel channel is shaped between $ 9,400 and $ 10,000, giving Bitcoin's price a dynamic perspective for the next days. During the last weeks, we can see that some trends have been established. Those trends, the uptrend, and the downtrend can show that small moves can create profits, even in day-trading.
Indicators
MACD index remained on the negative values without any significant move that will change the momentum in the market. In parallel, the RSI index remained around 55, showing relative stability for the next moves.
Ethereum / US Dollar
Price Analysis
A similar situation has been around Ethereum for the last days. The price remained at $ 240, without any losses or signals for boosting the trend in the uptrend. The $ 240 level was formed in early-March, and the current situation develops a new perspective in Ethereum's future. The symmetric triangle is often a bearish signal for the stocks. This could happen in the next days when the price may correct in the previous parallel channels.
The support levels remained at $ 220, $ 200, and $ 185, showing that the price won't fall easily after a bearish turn, which is possible after the symmetric triangle.
Indicators
MACD index remained on the positive side, showing there is a certain momentum in the market that could be used for reversing the bearish signals in the technical analysis field. On the other hand, the RSI index is moving on the upper side for reaching the overbought point. Even if the price climbs in the last days, there could be room for a little more.
