The previous week did not bring any surprises and was generally the scenario described in the previous issue of our review.
At the moment there is consolidation and accumulation volumes for further upside movement, says CEO of the service cryptorg.net and regular contributor ForkLog Andrey Podolyan.
Serious vystupili resistance levels $9 200 $9 800 in the area where the price goes for quite a long time. When he reached the level of $9 800, the rate bounced back sharply against the background of massive sales and profit.
Here’s how it looks on the four-hour chart:
To continue the upward movement need to break through the resistance formed. In the breakdown of the range of $800 9 – $10 000 up to happen impulsive motion in the neighborhood of $11 700.
The breakdown of local support as low as possible the price could fall in the neighborhood of $8 400. Falling below this level currently seems unlikely, as the bulls will use any drawdown rates for purchases.
On the daily time frame without modifications. The movement in the third wave. Need an impulse like the one that was on April 12.
BTC/USD daily chart
The structure of the weekly candle suggests that made close to $9 800 level will take quite difficult — the approach to this level may be accompanied by massive sales.
Also the graph shows that the bears failed to build on their success and push the price far down.
BTC/USD weekly chart
The second capitalization cryptocurrency last week reached values just above $700, almost reaching the target of $777. I recall a few weeks ago it was recommended to buy the coin just below $400 and keep up the first goal of $700 and a little higher. We assume the signal of the exhaust.
ETH/USD, the fulfillment of purpose on the daily chart
ETH grew a little more actively than the main coin, but now he is a mirror to copy it, so the future prospects of ETH completely depends on how to behave like bitcoin.