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Bitcoin (BTC): Range-Bound with Potential for Breakout
BTC is trading at $113,210, holding steady between $111,213 and $112,691. This consolidation follows a sharp decline from its all-time high of approximately $126,000 earlier this month.
Key levels to watch:
- Immediate Support: $110,000
- Resistance: $117,000
A clean break and close above $117,000 could signal a bullish continuation toward $120,000. Conversely, a drop below $110,000 may lead to a retest of lower support levels.
Ethereum (ETH): Bullish Structure with Potential Upside
ETH is trading at $4,037.32, testing the $4,000 resistance level. Despite recent ETF outflows totaling $93 million, analysts maintain a long-term bullish outlook for Ethereum.
Key levels to monitor:
- Support: $3,900
- Resistance: $4,000
A breakout above $4,000 could pave the way for a move toward $4,300. However, failure to hold above $3,900 may result in a pullback to the $3,800 support zone.
Charting Notes:
- BTC: Consolidation between $111,213 and $112,691. Watch for a breakout above $117,000.
- ETH: Testing $4,000 resistance. Monitor for a breakout above this level.
- Timeframe: 4H for entries, Daily for trend confirmation.
