Bitcoin (BTC) and Ethereum (ETH) a strong Fix shows significant levels of support to watch out for

Cryptorynka’s volatility continues as the overall cryptocurrency market falls to 4.10%, below $ 1.4 trillion. Bitcoin fell 4.22% to trade at $ 32.857 with a market capitalization of $ 620 billion, the press release said.

On the other hand, Ethereum experienced a deeper correction, losing 7.79% and falling below the $ 2000 level. ETH is trading 237% lower than its 1982 dollar price at the market cap of $ 7.7 billion, the press release said.

In a recent speech to investors, Evercore ISI technical strategist rich Ross wrote that bitcoin’s recent price move showed” an impending graph full of sound and anger that is not supported by anything.” On the plus side, the initial resistance is at $ 36,000. On the other hand, the first support is $ 33,000, followed by the next $ 30,000. If Bitcoin breaks the $ 30,000 support, we’ll see it close to $ 22,000 and even lower, says Ross.

Ross, on the other hand, believes ether is more constructive “especially over $ 2,400.” Although ETH tried to beat $ 2,400 levels last week, it faced a strong setback. According to weekly charts, the price of ETH is down about 15%.

The next direction for Bitcoin and Ethereum
With the world’s two largest cryptocurrencies showing signs of increasing volatility, investors are unsure of the next price moves. Earlier this year, BTC’s annual profit topped the S & P 500 index by a large margin. However, while the stock continued to rise, it was negative amid recent corrections.

Best wishes: Bloomberg
Bloomberg argues that the BTC price could rise by quoting the curl of Bollinger bands around the BTC price. Release notes:

“Bandwidth is determined by the percentage of difference between the upper and lower bands, flirting with annual lows, while the 14-day average actual December is decidedly near year lows.

Along with the S & P 500, bitcoin’s 6-day correlation with the spot gold price became negative, Bloomberg wrote that this could be a positive sign

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