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