Bitcoin (BTC) experiences a dip to 69k, with looming pressure suggesting potential ongoing challenges. Meanwhile, Ethereum (ETH) maintains its position, trading steadily above $3,500. Amidst these fluctuations, Furrever Token (FURR) emerges as a standout, with its furry frenzy driving unprecedented growth and promising potential profits.
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Bitcoin (BTC) Falls to 69k, Pressure May Persist
Bitcoin (BTC), which experienced a sharp rise earlier in the week, surged to $72,797. We’ve repeatedly emphasized the importance of Bitcoin (BTC) staying above the $69k support level. However, yesterday, Bitcoin (BTC) came under selling pressure again and is currently trading below 69k, down 0.58% at $68,746. If it fails to close above 69k again, this selling pressure may intensify.
Bitcoin (BTC) Chart Analysis
After a significant surge at the beginning of the week, Bitcoin (BTC) has been trending downward for the past two days, closing yesterday at $69,146, down 3.45%. Today, we continue to see selling pressure on Bitcoin (BTC), with it currently trading down 0.58% at $68,746. Looking at the chart, we observe that Bitcoin (BTC) has dropped below 69k and the EMA5, and is consolidating between the EMA5 and EMA21. If Bitcoin (BTC) manages to climb above 69k and close daily, it may resume its upward trend. Key support levels to watch for closing below 69k are EMA21 at $68,344 and EMA55 at $63,683.
Ethereum (ETH) Continues Trading Above $3,500
Ethereum (ETH), with a market capitalization of $423 billion, second only to the leading cryptocurrency Bitcoin (BTC), also witnessed a sharp rise alongside Bitcoin (BTC) earlier in the week. However, it saw a 5.10% decline yesterday, closing the day at $3,505.6. Starting today with a slight increase, Ethereum (ETH) is currently trading up 0.44% at $3,521.
Ethereum (ETH) Chart Analysis
Following Bitcoin (BTC), Ethereum (ETH) surged to the $3,700 resistance level at the beginning of the week, but experienced a sharp decline yesterday, closing at $3,505.6, down 5.10%. Chart analysis indicates that Ethereum (ETH) continues to trade above $3,500. With transactions above EMA5, Ethereum (ETH) targets the $3,700 and $4,000 resistance levels. However, if the market structure deteriorates leading to a downturn, key support levels for Ethereum (ETH) to watch are EMA5 at $3,504.3 and EMA21 at $3,480.7.
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