Table of Contents
The crypto market ended the day slightly bearish as the Bitcoin price continues to struggle to rally higher after breaking through the $46k key level in the 4-hour timeframe.
This $46k Bitcoin level is a fate decider and has a way of affecting the Bitcoin trend for the coming days or even weeks.
For a full breakdown of our bullish price prediction on Bitcoin, check out our previous analysis Bitcoin Just Broke Through This Key Level! Rally To $59k?. In that analysis, we talked about the key levels we are watching right now.
However, if you are bearish on Bitcoin, we also have a bearish price analysis where we break down the key resistance we are watching as well as what our bearish bias is.
But for this bearish bias to become valid, Bitcoin needs to break through the $46k support level on the 4-hour timeframe. Bitcoin: This Could Change Everything! Can The Bulls Hold $46k?
You can trade Bitcoin with leverage, sign-up to Bybit right now! You can also get up to $1,610 in deposit bonus when you sign-up and fund your Bybit account with our Bybit link.
How Will These Bitcoin Key Levels Affect ETH?
Our ETH bullish bias is playing out exactly as we predicted The ETH Rally Has Started! Watch This 36% Target Next! with the price gradually trending higher to the previous ATH. However, right now ETH is stalling.
This pause in the upward movement in the Altcoin price comes at a time when many traders believe the Ethereum price might just be overextended.
When you combine that with the Bitcoin price remaining undecided on whether to keep surging higher or crash back lower in the coming days. Yo get a potential for an ETH sell-off soon!
Is ETH Bullish Or Bearish?
We believe the Ethereum price might just be waiting to see where Bitcoin would trend towards in the coming days to follow. However, the key level we are keeping an eye on is the $2,836 key support on the 4-hour.
No matter where the price moves for the short term, we will remain bullish on Ethereum as far as the Altcoin price continues to trade above the $2,836 key support levels on the 4-hour timeframe.
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting
