Bitcoin price analysis: an impulse is possible, but it will not be easy.

Last week did not bring any special surprise and it was generally in accordance with the scenario described in the previous issue of our analytical review.

At the moment, there is consolidation and accumulation of volumes for a greater upward movement.

Severe resistance levels of $ 9,200 and $ 9,800, in the vicinity of which the price has been occurring for quite some time, have increased. Having reached the $ 9 800 mark, the rate jumped sharply in the context of massive sales and profit taking.

This is what it looks like in the four-hour chart:

To continue the upward movement, you need to break the resistance that has formed. In case of a breakdown in the range of $ 9,800 - $ 10,000, an impulse movement to the area of $ 11,700 should occur.

If the local support is reduced as low as possible, the price may fall to the area of $ 8,400. A fall below this mark now seems unlikely, since the bulls will use any reduction in the price of purchases.

The daily time frame is not modified. The movement takes place within the framework of the third wave. We need a shock impulse like April 12.

The structure of the weekly candle says that the level reached near the level of $ 9 800 will be quite difficult to achieve: the focus of this brand may be accompanied by massive sales.

In addition, the graph shows that the bears could not develop their success and pushed the price down.

Ethereum

The second by the capitalization of Crypto-currency last week reached values above $ 700, barely reaching the goal of $ 777. Let me remind you a few weeks ago that you were recommended to buy a currency just below the $ 400 mark. and keep until the first goal is $ 700 and a little more. We will consider the signal as fulfilled.

ETH grew a bit more active than the main currency, but now it began to reflect it again, so ETH's future prospects completely depend on how Bitcoin behaves.