Crypto Daily: Bitcoin Prepares to New Highs; Ethereum Set New ATH

Feb 10, 2021
06:02
2 min reading

Choise.com team

The lull in the Bitcoin market allowed many altcoins to show significant growth by tens of percent. BNB stood out the most, with a price increase of 54% to $125. But Ethereum showed an increase of only 4%.

Let’s take a look at the Bitcoin chart and assume where it is headed in the near future, as well as set goals for Ethereum.

Bitcoin

It is now becoming apparent that the $45,500 level is the main support for Bitcoin. It is in this zone that active purchases begin, which pushes the price up. Globally, nothing has changed on the chart and the trend is still up.

Moreover, on the hourly timeframe, it becomes clear that sellers are losing power. At the moment, the Bitcoin price is trading at $46,500 and about 4% remains to ATH. In addition, the MACD and Stochastic indicators show signs of a reversal on the 1-hour timeframe.

All this suggests that in the next 2 days we can see new highs for Bitcoin. The immediate target will be the $50,000 level. Most likely, the price will be delayed there due to numerous fixations, since this is an important psychological level for market participants.

But we believe that the price will break it and head all the way to $60,000. This is indicated by a strong uptrend on the weekly timeframe.

Ethereum

Ethereum hasn’t shown any sharp price spikes in recent days, but its chart continues to rise slowly and smoothly. This is a good signal for further growth. As a rule, this indicates that the big players are gaining a position.

On the hourly timeframe, we noticed that the chart is forming an “ascending triangle” pattern, which is a signal for further growth. Based on this, we expect the price to jump again up to the $2,000 level in the coming days. You still have a chance to buy bitcoin and fix your guaranteed profit, learn how to buy bitcoin without fees in Crypterium.