Bitcoin has had three consecutive lower lows with Saturday’s action resulting in a Doji followed by yesterday’s candle as well as today’s (and Saturdays) can be loosely labeled as shooting stars, which are candles that form at the top of a rally with a small body and a long upper wick.
Ethereum is about to undergo a once-in-a-lifetime metamorphosis that will be remembered for decades. My conservative estimate is that Ethereum prices will 2x over the next month and continue to climb higher and possibly faster than it ever has or will. I am not alone in my stance on the world’s largest decentralized finance ecosystem, and (for the time being) the number two crypto asset.
Both Bitcoin and Ethereum or down on the day ahead of tomorrow’s release of the U.S. consumer price index for July. Bitcoin had effectively a false breakout yesterday from a compression triangle that dates back to mid-June.
Ethereum and Bitcoin are posting their first daily gains this week while they both are trading near the top of their current ranges.
Bitcoin’s range is defined by a compression triangle drawn from connecting the lows reached on June 18th and July 13th and extending forward in time, the same method is used for the resistance trendline using the highs of June 6th and July 30th.
After a huge boost in the value of Ether, (Ethereum’s native) last month gaining over 50%, traders who are up on their long Ethereum trades might be asking themselves if now is a good time to pull their profits.
