Bitcoin Is Under Pressure And Consolidate Again, Ethereum Rises slowly But Steadily

 2021-05-27 10:02:10

Bitcoin broke through the $40,000 mark as expected yesterday, and was blocked at$41,000 after a slight upward pull. The subsequent callback fell below the $39,000 position, and the price further retreated to the $37,900 position before rebounding. The current trend is running around $39,000, the support line is slowly moving up, and the market has entered a volatile upward rhythm. In the day, we will focus on the breakthrough of the $41,000 suppression.

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Looking at the daily chart, the trend has climbed upwards, and bullish sentiment has gradually recovered. At present, the five-day average line is rising, and the trend is running above it. The overall range continues to move up, but the strength has begun to weaken and a longer shadow line appears above. Therefore, it is not recommended to break through the key position in the day, and it is not recommended to follow up blindly. The MACD two lines are about to fit below the zero axis, and the RSI hook head maintains an upward posture. This shows that the intraday market is still volatile and upward.

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Looking at the short-term hourly chart, the Bollinger Band is closing, and the price has stepped back to the $37,900 position and started to rebound. Currently, it has broken through the mid-track suppression. The short-term long and short sides are relatively stalemate. The indicators in the pictures show signs of flattening. Without breaking through the $41,000 repression zone, the market will continue to consolidate.

 

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Ethereum price has been linking with the market recently. After the price was blocked at around $2,910 and pulled back yesterday, a small adjustment once again withdrew its support. Today's low touched the $2,665 position and rebounded. The current price is running around $2,770. The follow-up will focus on the $2,870-$2,910 suppression area. If it can break through and stabilize in the day, the market is expected to further test upward and hit the $3,000 mark. Otherwise, it will continue to consolidate.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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