Bitcoin (BTC) and Ethereum (ETH) Setting Up For Higher

Please add a description for the image.

Bitcoin (BTC), Ethereum (ETH) and Alt-Coins – Prices, and Analysis

Bitcoin and Ethereum are both trying to keep the uptrend channel we’ve highlighted over the past few months, but that doesn’t mean they can’t keep growing, just the recent pace of the two major digital currencies in the near future and the charts stay positive and up a period of slightly sideways price movements could make the long-term outlook more attractive for both by moving the CCI indicator from the overbought to the overloaded area. Bitcoin is likely to further increase the second ATH soon, and any short-term sale is expected to receive around $ 59.5 thousand in initial support.

Bitcoin (BTC/USD) Daily Price Chart – November 5, 2021

Bitcoin (BTC) and Ethereum (ETH) Setting Up For The Next Leg Higher

Ethereum continues to rise and is still in the pricing state. As with Bitcoin, support for the trend is under constant pressure and Ethereum could well stabilize in the coming days to normalize the CCI index, which only stays in the overbought territory. The initial support at the $ 4,379 high so far may not be very strong ahead of the $ 4,025-4,150 support. The latter area is expected to be sold in the near future. As with Bitcoin, the overall positive trend continues.

Ethereum (ETH/USD) Daily Price Chart – November 5, 2021

Bitcoin (BTC) and Ethereum (ETH) Setting Up For The Next Leg Higher

The alt-coin market, which is measured here by the total market value of digital currencies minus the Bitcoin market value, continues to grow and, unlike Bitcoin and Ethereum, puts pressure on trend resistance, not on support. In the past six weeks, the market value of alt-coins has increased more than $ 500 billion, up more than 50%. That growth will continue with a trend channel large enough to allow 10% sales before the uptrend is depressed.

Crypto Total Market Cap Minus Bitcoin – November 5, 2021

Bitcoin (BTC) and Ethereum (ETH) Setting Up For The Next Leg Higher

Chart by TradingView.