In recent days, the cryptocurrency market has shown active movements, especially Bitcoin and Ethereum. This article examines current trends and recommendations for investors.
Bitcoin Analysis
After two months of consolidation, Bitcoin has broken out of a flag pattern, reaching a new all-time high of $123,218. The price has slightly declined, finding support near $115,736, corresponding to the Fibonacci 0.707 level. A rebound at this level indicates typical bullish behavior.
Ethereum Trends
Ethereum has recently shown strong upward momentum, breaking out of a trading range and temporarily peaking at $3,150, with the current price at $3,137. Historical price action indicates consistent resistance or support within the $2,800 to $2,880 range.
Investor Recommendations
Investors may consider entering a long position at Bitcoin's current price of $117,650. A more conservative approach would be to wait for a pullback to the 0.618 level. For Ethereum, entries could be considered within the range of $2,800 to $2,880 during a price decline.
Thus, the cryptocurrency market shows significant changes, and investors should closely monitor price levels for optimal market entries.
