New Bitcoin And Ethereum Price Predictions Are Out | CryptoGazette
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There are some new Bitcoin and Ethereum price predictions out. Check out the latest reports about the most important coins in the market at a time when the prices look pretty bloody.
At the moment of writing this article, both BTC and ETH are trading in the red, and the king coin is priced at $47,321, while ETH is trading at $3,396.
It’s been reported that the pseudonymous analyst known as Capo recently said that while Bitcoin (BTC) has put in an impressive performance over the last week, BTC still hasn’t consolidated above its crucial resistance levels.
He also addressed the fact that volume is going down while open interest and funding are going up, suggesting that traders are putting excess leverage into the system.
“Nice push of the bulls, showing strength these past few days. However… is the bearish scenario invalidated? Well, price broke 45k-46k, but it hasn’t consolidated above it yet and the last push had some bearish signs: -Price up, volume down, OI down, funding up”
Capo also sees some bearishness forming in the stock market. He also shared a message which was highlighting that the S&P 500 index (SPX), which is often correlated with crypto markets, is most likely on its way down.
“Also, SPX is facing major resistance with decreasing volume… Call it denial or whatever you want, but in my opinion we are not out of the woods yet. Bearish scenario still in play.”
Important indicator reveals massive news about Bitcoin
Pseudonymous crypto analyst Tech Dev says one metric is flashing a rare signal that a massive boost for Bitcoin (BTC) is incoming.
On Twitter, he shares a Bitcoin chart with 3-week candles and a vortex indicator (VI), a metric that identifies trend reversals for any given asset.
Stay tuned for more news and check out our previous article in order to learn more details about this.
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