Ether price hits 2-month high against Bitcoin as BTC price tests $69K
Bitcoin (BTC) tested $69,000 as support, with analysts concerned about a potential pullback.
Material Indicators warned of a possible resistance/support flip at $69,000 and a clear down signal on daily timeframes.
John Bollinger, creator of the Bollinger Bands volatility indicator, expressed short-term concern over BTC's price action.
Predictions of a wider BTC price retracement have come from the trading community, with some expecting a return to $60,000 or lower.
The decision on the United States spot Ether (ETH) exchange-traded funds (ETFs) will impact Bitcoin targets, with a positive decision potentially pushing BTC to reenter price discovery and reach $80,000.
