Bitcoin Price Could Test $57K Resistance Soon
Bitcoin price received a sudden boost which was a need of the hour since the market fell into the Chinese FUD. The dominant crypto just broke the parallel channel and jumped towards the north a couple of days before. Yet the BTC price appears to be extremely poised in order to range close to its ATH above $64,000.
The asset was trending within the ‘W-shaped’ pattern and recently broke the neckline. The price currently broke the neckline and is moving towards the next resistance above $52,000. Once the price spikes above these levels, the probability of forming a new ATH very soon.
Also Read: Zooming Out the Illusion!! Know When is the Next Bitcoin(BTC) Price Bull Market!
Ethereum Price Following BTC Trend
A similar movement is witnessed with the second most favoured crypto Ethereum. As the final quarter initiated the trade, most of the crypto assets flipped the bearish September trend. With a notable margin, ETH price broke the strong resistance at $3370 and heading towards the next levels.
The price is currently attempting very hard to break the symmetrical triangle. However, to complete the pattern, the price needs to consolidate a little more. And hence an accumulation at these ranges could be pretty possible. On the contrary, if in case the asset breaks the pattern and proceeds towards the south, then could retest the support levels before pulling the next leg upup.
Also Read: Ethereum buckles up, set to hit $3500! Here’s when $4K-$5K range will be achieved
Collectively, the top 2 assets are currently going hand in hand and therefore could reach their respective destination if maintained the similar pace. Bitcoin(BTC) price and Ethereum (ETH) price appear poised to hot the next resistance level quickly and head towards their respective ATH.
Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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