<img width="696" height="464" src="https://technicalterrence.com/wp-content/uploads/2024/11/Bitcoin-reaches-76825-Ethereum-breaks-key-resistance.jpg" srcset="https://technicalterrence.com/wp-content/uploads/2024/11/Bitcoin-reaches-76825-Ethereum-breaks-key-resistance.jpg 696w, https://www.financebrokerage.com/wp-content/uploads/2024/11/etherbit-1-300×200.jpg 300w, https://www.financebrokerage.com/wp-content/uploads/2024/11/etherbit-1-1024×683.jpg 1024w, https://www.financebrokerage.com/wp-content/uploads/2024/11/etherbit-1-768×512.jpg 768w, https://www.financebrokerage.com/wp-content/uploads/2024/11/etherbit-1-630×420.jpg 630w, https://www.financebrokerage.com/wp-content/uploads/2024/11/etherbit-1-1068×712.jpg 1068w, https://www.financebrokerage.com/wp-content/uploads/2024/11/etherbit-1.jpg 1200w" sizes="(max-width: 696px) 100vw, 696px" alt="bitcoin“/>
General analysis
- bitcoin, at an all-time high of $76,825, continues its rally for the second day in a row. The price is currently in a strong uptrend.
- ethereum successfully closed above a major resistance, the rally appears to continue higher.
bitcoin Chart Analysis
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/11/Bitcoin-reaches-76825-Ethereum-breaks-key-resistance.png" alt="btc/USD 15-minute chart” width=”1510″ height=”849″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/11/Bitcoin-reaches-76825-Ethereum-breaks-key-resistance.png 1510w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-91-300×169.png 300w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-91-1024×576.png 1024w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-91-768×432.png 768w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-91-747×420.png 747w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-91-696×391.png 696w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-91-1068×600.png 1068w” sizes=”(max-width: 1510px) 100vw, 1510px”/>
btc/USD 15-minute chart (Source: TradingView)
In the trading session of November 7, 2024, bitcoin marked an all-time high of $76,825. Currently, the price is moving in an uptrend, making an increase high higher low pattern with previous swings still intact.
After breaking strong resistance on October 28, 2024, the The price was retested and has continued to produce green candles since the last three trading sessions. The RSI has just crossed the 70 mark, indicating an overbought scenario. The price needs to cool down, creating a stop area near an all-time high to continue a bullish rally.
At the moment, in 15 Price on a 15 minute time frame is moving backwards in a higher high and higher low formation. Strong support can be seen at the support trend line. This price action makes it easier for traders to plan an entry.
If you are looking for an input activator, here are a few.
- If the price recovers from the support trend line with a rejection candle, so Buyers may consider entering with the stop loss below the previous low and the target. until Level of $76,800.
- If the price closes below the support trend line and creates few stop candles, then sellers can consider entering the trade with a stop loss above the previous high and target $74,318 and $72,500 levels.
ethereum Chart Analysis
<img decoding="async" loading="lazy" src="https://technicalterrence.com/wp-content/uploads/2024/11/1731082080_841_Bitcoin-reaches-76825-Ethereum-breaks-key-resistance.png" alt="eth/USD 15-minute chart” width=”1200″ height=”555″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/11/1731082080_841_Bitcoin-reaches-76825-Ethereum-breaks-key-resistance.png 1200w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-90-300×139.png 300w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-90-1024×474.png 1024w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-90-768×355.png 768w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-90-908×420.png 908w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-90-696×322.png 696w, https://www.financebrokerage.com/wp-content/uploads/2024/11/unnamed-90-1068×494.png 1068w” sizes=”(max-width: 1200px) 100vw, 1200px”/>
eth/USD 15-minute chart (Source: TradingView)
On the trading session of November 7, 2024, ethereum successfully closed above the strongest resistance zone and continued to move upwards while taking support on the trend line. If the price successfully stays above $2,774 for more than 2 or 3 days, then the price can be seen rising sharply.
The price successfully closed above the $2,774 level on the daily time frame. The price must stop at this level to continue the rally. Once the price breaks out, the stop area positional trader can consider entry for long-term returns.
At the moment, in It can be seen that the price on the 15-minute time frame is moving up while taking trendline support, the price is facing rejection from the $3,924 level.
If you are looking for an input trigger, there are a few:
- If the price moves away from the support trend line, then buyers can consider entering a trade with a stop loss below the previous swing and a target as high as $3,013.
- If the price closes below the support trend line, then sellers may consider entering the trade with a stop loss above the previous high and a target of $2,820.
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