Support is close
Very strong support is really close. This is the level between 62 565 – 63 309 USD. Between these two price points, Bitcoin has to see a bounce upwards. We have already touched this level with one of the wicks on the Wednesday evening, but as it is usual with Bitcoin, it jumped right back up. But right now we can see a slow decrease to those levels again.
We are very close to those levels, which can again be a reactive zone. Moreover, below this level we have one more strong support in the form of the trendline, which in the ideal case, we need to hold. This is the most probable scenario right now and before any continuation I need to see how Bitcoin reacts at those levels in the upcoming hours. If it does, next levels should be around 70 233 USD.
Has something changed on daily chart?
The daily chart has not even shown any crucial downtrend. The chart looks stable for now. The problems could arise once Bitcoin breaks down below 56 380 USD. But it does not look like that should happen any time soon.
Ethereum not looking good
To be honest, Ethereum does not look good. Here we can see almost perfect rising wedge, which in some situations could lead to the uptrend, but most of the time it leads to a decrease. So far, ETH is still holding the trendline, but the increasing pressure from the sellers side can be easily spotted. Currently the situation is stable, but I am expecting the price to fall back down to 4 380 USD.