Bitcoin and Ethereum did not have a bad start to the week. The largest cryptocurrency with its market value is above $ 39,000, while Ethereum finds buyers around $ 1600. How is the outlook in the technical analysis of both cryptocurrencies?
With the 2618 strategy transaction created in our 4-hour chart, both goals were achieved. In our chart, which is on the same level as our resistance zone, the flag formation is present, and breakage occurs in our chart, which is correcting hourly before reaching the AB = CD formation, and the target can be set for the AB = CD formation level. With the candle closing above the 42454 levels, the price will continue, confirming the long-term uptrend. If there is a fall, the 36591 levels can be determined as strong support.
The Symmetric Triangle formation, which he created on the 4-hour chart, took his target. AB = CD formation, which was formed near the target, took its 1st target in the decline direction. If the decline continues, the level of 1418 should be followed as the second target. The 1538 and 1490 levels that were previously determined as support should also be followed. If the rise in the medium term continues, selling pressure may come in the Libra formation created at the 1690 level.
P.S: This is not an investment advice