THE UPWARD TREND IN THE CRYPTO MARKET CONTINUES
Bitcoin (BTC) and Ethereum (ETH) continue their recent uptrends. BTC experienced fluctuations after reaching a peak of $ 108,309 on December 17, but is trading at $ 98,914 as of December 26. ETH, on the other hand, has stabilized around $ 3,462 after testing $ 3,540 levels.
On the daily charts, the price of BTC is trading near the middle band, and the downtrend has been limited. On the 4-hour charts, a clear double bottom formation and strong support levels are observed. These technical indicators indicate that the uptrend may continue.
Analysts state that BTC may be suitable for long positions in the $ 98,200-98,500 range, and the target is $ 101,000. Similarly, long positions are recommended in the $3,430-3,460 range for ETH, with a target of $3,600.
With the reopening of US stock markets, trading volumes and volatility are expected to increase in crypto markets. Therefore, investors are advised to focus on short-term transactions and closely follow market dynamics.
As a result, the current technical structures and market conditions in BTC and ETH indicate that the uptrend may continue. However, it is important for investors to act cautiously by considering their risk management strategies.
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