Bitcoin is finally breaking out?
I guess, we are all pretty excited to see the surging prices for Bitcoins and all altcoins at the moment.
The price compression
Img src: Tradingview.com
Imagine a spring
You press it as hard as you can and this particular spring is magical. The more you press on it, the harder it's going to uncoil. That's what Bitcoin's price is at the moment. It has been compressing for a couple of weeks. It's at the end of the squeeze and this is confirmed with a breakout which you can see from the descending triangle chart pattern.
#THE BREAKOUT
The breakout could have gone downwards, however, it has gone upwards instead which is a good sign. It has been in a sideway range for a while. Could Bitcoin finally breached through 10 K? It has been already a month.
Noteworthy articles
Price analysis for Ethereum
https://coinrivet.com/latest-ethereum-price-and-analysis-eth-to-usd-68/
My favourite altcoin - Ethereum
Ethereum has been on my watchlist for two years
Recently, I noticed an anormaly with its current price. It was trading sideways after price rallied from 100 USD to the current 244 USD. The current price low is higher than its last low, it was somehow forming an ascending trend upwards.
img src: Tradingview.com
This is my own charts and yesterday when I checked out an analysis from another author, it is quite similar in the way its drawn. Currently, the resistance is at USD 250. The last time Ethereum broke through that, was somewhere in June but it dipped. I am pretty excited at the current DEFI growth and the potential built up as Ethereum aims to be the super computer. My current strategy is to just keep investing and buying Ethers.
Posted Using LeoFinance