Bitcoin, Ethereum Technical Analysis


Bitcoin finally broke above its recent price ceiling on hump-day, leading to the world’s largest cryptocurrency snapping a six-day losing streak.

Following a low of $38,235.74 earlier in today’s session, BTC/USD surged beyond its resistance level at $40,000 as crypto prices rebounded across the board.

As of writing, BTC/USD is up nearly 9% on the day, hitting an intraday high of $42,352.69 in the process.

Bitcoin, Ethereum Technical Analysis: BTC Rallies to 1-Week High Above $42,000
BTC/USD – Daily Chart

This is the highest level BTC has traded since last Friday, when prices were on their way to a now support level of $37,600.

Wednesday’s surge in price comes as the 14-day RSI broke free of its own resistance point of 46.70, and is currently tracking at 55.10.

Should price strength continue to climb, bulls will likely attempt to recapture the $45,000 ceiling for the first time since March 2nd.



ETH, which was in a streak of consolidation for the last four sessions, finally moved away from this floor, and is up by over 6%.

As of writing, ETH/USD is trading at $2,739.56, which is marginally lower than today’s peak of $2,761.80.

Looking at the chart, today’s surge has taken the price of ethereum close to its interim resistance point of $2,800.



  • I also saw the latest summaries that are shown by my crypto exchange. This completely changes the big picture for crypto for the next week. But I'm not worried. I do most of my trades with trading bots. I just need to make new settings and go into battle again)) This is a typical situation for an individual trader in crypto.

  • Thanks for such a great analysis. I can also advise you to find out more about XRP (ripple) coin on Coinbase. I think it is worth your attention. Feel free to read more how to buy xrp on coinbase

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