Bitcoin is pressing against a wall: the 200-day moving average at roughly $83,400 is converging with the upper trend line of its current channel, and the rejection so far is textbook. The 20-day sits near $79,000 — where Bitcoin is trading now — with the 50-day around $75,000 as the next meaningful floor. Below that, a Fibonacci confluence zone between $71,000 and $72,000 (the 0.618) and $68,000 (the 0.786) marks the higher-low support that would need to hold for the broader macro bull case to stay intact.
Ethereum is in worse shape. It has failed to reclaim either the 20-day or the 200-day moving average, and is now testing the lower trend line of a narrowing apex triangle on the daily chart. Key Fibonacci support sits between $2,100 and $2,000, with a potential retest of the $1,900 prior low in play if that level breaks. The 20-day has crossed below the 200-day — a pattern that in…
Lookonchain
CryptoSlate
CoinDesk
TheBlock