Today we take a look at the technicals for Bitcoin and Ethereum.
The crypto market, just like the stock market, has had some tough times over the past 6-8 months.
Recently Bitcoin dropped as low as $17,568, falling from an all-time-high at $69,000 back in November 2022. Ethereum did something similar, dropping from almost $5,000 to as a low $879 during the same period.
After hitting rock bottom, the months of June and July have started to provided some stability to the crypto market.
In the last two weeks, both crypto currencies have started a recovery effort, with Ethereum leading the rally.
Is this a bounce, before the bears take price down again? Or did the crypto market hit a bottom and it's now ready to move up?
Watch this video to get the technical insights.
Good trading!
Trading Risk Disclaimer
All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is not an offer to buy or sell stocks, cryptos, forex, futures, options, commodity interests or any other trading securities.
From Coinbase
Bitcoin The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis — each satoshi is worth 0.00000001 bitcoin.
Ethereum is a decentralized computing platform that uses ETH (also called Ether) to pay transaction fees (or “gas”). Developers can use Ethereum to run decentralized applications (dApps) and issue new crypto assets, known as Ethereum tokens.