Bitcoin, Ethereum: price analysis and forecasts

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After a dip earlier this week as Bitcoin and major altcoins prices returned to test late November lows, the market responded by recovering to last week’s prices.

This trend confirmed the prediction written on Monday and explained during CryptoFocus’ latest live video stream on Monday.

In fact, the two sub-cycles that ended between Monday and yesterday, Thursday, December 22, mark lows and highs, paving the way for further extension in the days ahead.

If so, despite the still ominous clouds, there are short-term flashes of sunshine on the charts and the possibility of a return to assess the resistance levels identified prior to recent lows over the recent weekend. .

The coming weekend coincides with the Holy Nativity, a time usually characterized by lean trades.

It is necessary to maintain the levels of these hours to retrace a positive weekly close necessary to revive confidence currently unchanged from Monday’s levels. This is a sign that traders have also started to react emotionally to the disappointments of the past two months.

Bitcoin Price Predictions

It is necessary to recover and maintain the $17k, a level reached a few hours after having sunk below $16,300 for the first time since the end of November.

A dive that lasted a few hours, probably due to a test of the supports accompanied by short-term bearish speculation.

Next week will be decisive in trying to limit the damage not only numerically but also statistically.

Ethereum Price Predictions

The short-term technical structure of Ethereum is similar to that of Bitcoin with the difference in price.

For ETH, it is necessary to break above $1,300 over the next week to give a signal for short to medium-term reactions.

A stumble below $1,100 would be negative as it would lead to emotional defaults and the risk of soliciting bearish speculation that could take advantage of periods of low volumes, such as the current one.

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