More Than 20 Knows! Determines Bitcoin and ETH's Next Step

Bitcoin and Ethereum have faced significant price drops over the past nine days. While traders are showing signs of fear, one indicator shows that a significant recovery is underway.

TD Sequential signals “buy” for Bitcoin and Ethereum

cryptoify.blogspot.com they as also that we reported for previously Bitcoin and crypto given for the money 20 signal right out of the Tom Demark (TD) Sequential indicator, Bitcoin both Ethereum's gave a buying signal at the 12-hour graph. The bullish pattern comes after both cryptocurrencies have had their market valuations plummet since Nov. Now, TD predicts that BTC and ETH could enter the bullish zone one to four times on the 12-hour candlestick chart before the downtrend resumes.

An increase in buying pressure that pushes Bitcoin above $58,500 could send prices from $60,000, the 100 twelve-hour moving average, according to Ali Martinez's analysis. A sustained 12-hour close above the resistance level could extend the recovery from the 50 twelve-hour moving average to $62,300. Similarly, Ethereum must surpass the $4,300 resistance level to move forward with its 50 twelve-hour moving average to $4,500. Martinez says that if ETH breaks this hurdle, it could rally to $4,653.

On the other hand, the analyst states that Bitcoin and Ethereum need to stay above their respective lows to avoid further losses. According to Martinez, if BTC drops below $55,600 and ETH loses $3,960 as support; The downtrend could continue and BTC could drop to $52,000 while ETH could drop to $3,700.

Source: Cryptobriefing

Follow us on Twitter, Facebook, and Instagram to be instantly informed about the latest news.

Follow