RATE Group | BTC/USD Analysis After Halving, Ethereum Technical Update
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BTC/USD Analysis After Halving, Ethereum Technical Update

21 May BTC/USD Analysis After Halving, Ethereum Technical Update

Posted at 10:06h in Cryptocurrency News by

Bitcoin Price Chart, Ethereum Analysis, BTC/USD, ETH/USD – TALKING POINTS

  • BTC/USD could challenge a critical ceiling after breaking out of compression zone
  • If pair fails to breach resistance, slope of appreciation could be retested and broken
  • ETH/USD uptrend may be in danger as pair continue to stall at formidable resistance

BITCOIN FORECAST

BTC/USD recently experienced the highly-anticipated so-called “halvening” and is now trading above a compression zone marked by the multi-week uptrend and resistance at 9140.00. After bottoming out at a one-year low at 4857.84 , BTC/USD has since risen over 90 percent. The pair may now challenge a point of resistance at 10,540.49 where it had previously stalled in November 2019 and February of this year

BTC/USD – Daily Chart

Chart showing Bitcoin

BTC/USD chart created using TradingView

Clearing that ceiling could open the door to retesting the September-August 2019 high at 10,953.00 where BTC/USD had also experienced upside friction precipitating…

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