Ethereum [ETH] and Bitcoin [BTC] Price Analysis June 14

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Ethereum [ETH] and Bitcoin [BTC] Price Analysis June 14
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  • The 50% Fibonacci retracement will limit the earnings around $ 500, while the 61.8% retracement is holding it at $ 483.
  • The ETH / USD has formed a short-term bullish flag pattern, pending another upward break in the medium term.

Like most cryptocurrencies, the Ethereum price continues to correct upwards on Thursday. The Ethereum dropped below the $ 470 support in yesterday’s session and reached the $ 450 area before turning. He formed a short bullish flag pattern toward the end of the session, but broke back upward during today’s Asian session. However, the rise has been limited around $ 490 and attempts to break above this level have been limited by selling pressure.
The ETH / USD has formed another short-term bullish pattern, a pattern that could be overcome by breaking the $ 490 level and approaching the key resistance zone by $ 500. However, at this level bulls will have to fight resistance to 50% of the Fibonacci retracement level. A weak upward momentum is forming on the chart, in addition to the stochastic is at 32% and sends bullish signals in the short term.
On the other hand, the 50-period moving average in the 15-minute chart is above the 100 SMA and supports the price at the $ 483 level. At this level, 61.8% of the Fibonacci retracement also converges. Below, the 100-period moving average will support the falls at the $ 480 level, before the $ 470 support.
ETH / USD 15 minute chart
The BTC / USD finds a weak support at $ 6,450, but the moving averages and the uptrend line will offer more support at $ 6,400.

  • The 50 SMA has crossed above the 100 SMA in the 15-minute chart to indicate that buyers are gaining more control.

The Bitcoin price has embarked on a bullish move after falling below the $ 6,200 level, but found support at $ 6,150. The price bounced off the support and rose above short-term resistance at $ 6,300, before another upward movement that culminated in a bullish flag pattern supported above the $ 6,400 level.
The stochastic in the 15-minute chart is around level 30, and shows signs of bullish movements in the short term. The 50 SMA has crossed above the 100 SMA in the 15-minute chart to indicate that the bulls are taking over. Currently, the BTC / USD is flirting with the $ 6,500 level, while the immediate resistance has limited the intraday highs by $ 6,550.
The Bitcoin price is forming a bullish flag pattern, pending another upward movement that will see it rise to the immediate resistance zone at $ 6,600-6,700. In the event of a bullish break, bulls could gain momentum to face the key resistance level at $ 6,800. On the other hand, the BTC / USD has a weak support at $ 6,450, but the moving averages along with the uptrend line will offer more support at the $ 6,400 level. If the falls extend, the BTC / USD could fall to the demand zone at $ 6,200, a move that could cause it to test February’s lows below $ 6.1000.
BTC / USD 15 minute chart


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.