Bitcoin und Ethereum - Update Chartanalyse 10.07.2021

Bitcoin Chart Analysis

Source: Tradingview*

Bitcoin has exited our Ascending Triangle (ascending triangle/bullish) bearishly to the downside. Currently we are at around $33,760 and it currently looks like we are confirming the chart pattern.

If bitcoin fails to make it back into or above the chart pattern during the day, the technical price target would be USD 28,000. At around 32,000 USD we have a support zone that has held so far.

The RSI (Relative Strength Index) has also not shown a clear picture so far. At the moment, we are not managing to close above our downtrend in the daily chart. Until that happens, the bearish price target becomes more likely.

Bitcoin Dominance

Source: Tradingview*

Bitcoin unfortunately failed to confirm or hold our double bottom pattern (W formation). Thus, the chart pattern is invalid. Currently, we are at around 46% and in a small uptrend on the daily chart.

It is now important to be able to continue to hold this trend or to approach the resistance at approx. 50 – 52% in order to avoid testing the 40% mark again. The RSI is in neutral territory, which indicates a healthy rise in dominance.

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