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The crypto rally continued today as the Bitcoin and Ethereum prices surged higher dragging the crypto market up with it.
This bullish move goes well with our recent price prediction in Bitcoin Must Read: Bitcoin Just Broke Through This Flag Pattern! Surge To $36k?In that price prediction, we pointed out a potential price rally back up to the $32k resistance region.
This Bitcoin bullish prediction has played out exactly, and right now the Bitcoin price is trading around that $32k resistance level, building momentum to rally even higher in the coming days!
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Bitcoin Just Broke Through Key Resistance
The Bitcoin price has smashed through our first bullish target of $32k. This is very good for the Bitcoin price and increases the potential for us to see Bitcoin continue to rally in the coming days.
The key support to watch for would be the $31,863, as far as Bitcoin continues to trade above this key support in the 15 minutes timeframe, we will remain bullish on the Bitcoin price.
A break of this support only indicates weakness for Bitcoin and the end of this current price rally.
How Will This Affect Ethereum?
The Ethereum price also rallied today showing signs of strength. However, Ethereum is currently running into a major resistance channel from the bearish flag pattern it has been trading in for a while now.
A bullish break of this descending channel might prove difficult for the bulls but it is very possible. So right now we are monitoring this move to see how the Ethereum price will react with this key level in the coming days.
If this channel holds, we can expect to see Ethereum encounter resistance and likely sell-off soon! However, a price breakthrough could push ETH even higher in the coming days.
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