Bitcoin and Ethereum analysis 04/16/2021: BTC and ETH taking oxygen

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Talking Crypto

After two days marking all-time highs, the two largest cryptocurrencies by capitalization are on the decline. This is all normal.

They are looking for their support lines to continue their way to the moon. We can reach levels of 60,000 / 59,500 with Bitcoin and $ 2,150 with Ethereum.

Let's see it in my new analysis for Cryptocurrency.

Bitcoin

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Bitcoin price chart 04/16/2021 | TradingView

Today BTC dawned between $ 61,000, looking for the liquidity to continue its way towards $ 70,000.

The bears have managed to break the key level at $ 62,000 and are pushing hard to reach the $ 60,000 and $ 59,500 supports.

We can see the giant today reaching levels of $ 59,500 and, if the bears are able to go strong, the next zone for Bitcoin is $ 58,000.

But the bulls have everything on their side to sustain the $ 60,000 and rebound to $ 62,000, and then go in search of $ 70,000.

Ethereum

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Ethereum price chart 04/16/2021 | TradingView

The $ 2,150 zone continues to be quite strong support for Ethereum. Bulls have quite a range at this level.

Although ETH is at $ 2,450, between the current support and price there is not much resistance.

The bears will look to hit the $ 2,150 support quite strongly for ETH and if they manage to break it they would go for $ 2,000.

However, the bulls have the market taken and are likely to push very hard towards new highs.

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Analysis by analyst César Quintero for Cryptocurrency



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