Bitcoin (BTC) could still hit $24,000
After breaking the downward parallel channel, the price of bitcoin surged from the bottom to near $20,000. The Fed's latest rate announcement recently triggered significant bullish momentum, pushing prices higher from the consolidation area around $21,000. Right now, after an 8% rally, the bulls seem exhausted.
For now, the bears are trying to keep a lid on prices, but the bulls seem poised to continue their rally north.
BTC prices are currently in the lower range of the rising parallel channel and are expected to continue for some time. However, driven by extreme bullishness, prices may initially break above $23,600 before attempting to reach $24,000. At these levels, if the bulls lose power, one can expect another rejection here.
Ethereum (ETH) could hit $1,800
Ethereum has experienced a significant uptick, which is very necessary to arrest the downtrend. However, after a sharp rise, prices have consolidated substantially within a very narrow range. Thus, a significant move higher could be predetermined, which could take the price to the upper resistance level of $1,700.
Once the asset reaches resistance, the short term may have formed a bullish double bottom pattern. So it could become quite weak after a number of rejections around $1,700, which could help the price break the neck line. However, it is only if it breaks above $1,843 that the asset may be considered above the danger zone. Therefore, the upcoming week could be critical for the price rebound of Ethereum (ETH).