Today we take a look at the technicals for Bitcoin and Ethereum.
The crypto market has been quiet for several months.
On Friday we detected unusual dark pool activities (large block orders) in the Bitcoin Trust Fund and Ethereum Trust Fund, GBTC and ETHE respectively.
When smart money know something, they place large orders in the dark pool exchanges, away from the public eye.
By doing so, they are positioning themselves ahead of the crowds, in order to benefit from move that will follow, once the news or report is made public.
However, dark pool activities do not tell us the direction of the next move. It only tell us that a large order(s) has been placed.
Only a breakout (bullish) about a resistance level, or a breakdown (bearish) below a support level can confirm the direction of the next move.
So, what can we expect next?
Watch this video to find and to get the technical insights.
Good trading!
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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.