Bitcoin (BTC)Crypto NewsEthereum (ETH)

Top Cryptanalyst Pentoshi Outlines What’s Next For Bitcoin And Ethereum As Crypto Markets Falter

A closely followed crypto strategist and trader outlines what Bitcoin (BTC) and Ethereum (ETH)as the recovery in crypto markets slowly slows down.
The pseudonymous analyst Pentoshi tells his 434,900 Twitter followers that Bitcoin is currently trading in a wide range between 32,000 and 58,000 US dollars.

“I didn’t know how clean they were BTC [three-day] Diagram is. Larger high time frame range. Cap: $ 58,000. Middle: $ 45,000. Low: $ 32,000. “
Source: Pentoshi / Twitter
With the middle of the range acting as support, Pentoshi looks at the four-hour chart and says Bitcoin’s rise now depends on how the bulls will react once BTC recovers $ 53,000.

“Bears want to defend this $ 53,000 area but are ready to give way to this level (lower high).
Top Cryptanalyst Pentoshi Outlines What’s Next For Bitcoin And Ethereum As Crypto Markets Falter, Crypto Trading NewsSource: Pentoshi / Twitter
According to the crypto strategist, a rejection at $ 53,000 means bulls will have to defend the support of around $ 49,000 and print a higher low setup, suggesting buyers are ready to jump in at higher prices.

However, Pentoshi notes that a surge below $ 49,000 puts BTC at risk of revisiting the support at $ 45,000.

At the time of publication, Bitcoin is trading at $ 50,970, an increase of less than 1% over the past 24 hours.

As for Ethereum, Pentoshi says the range between $ 4,400 and $ 4,500 is a critical value for the leading smart contract platform. Moving above this price range would push Ethereum into a new one All time high (ATH)says Pentoshi.

However, the crypto strategist warns that a stalled ETH rally is putting the second largest crypto at risk of reversing its upward trend.

“ETH macro.

Declining to a lower high and likely new lows from the inverted Uno card.

Over $ 4,400 – $ 4,500 = new ATHs.

$ 3,940-4,000 is now the key defense point. Long at the moment. I would love to see a push up and some swing from that rounded bottom. I want to sell $ 4,400 to $ 4,500. “
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Source: Crypto News Deutsch

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