Bitcoin and Ethereum have some new cards of fate at play. It will be amusing to know how things turn out for the both of them, as we delve into Bitcoin and Ethereum’s long-term probable trading zones.
Analyzing graphs for potential resistances and support zones can be a real pain in the neck. With the help of the Volume Profile Visible Range (VPVR), one can tune the suffering down, just a little. Yearly Pivots and breakthrough levels of both resistances and support are crucial. Their association makes it for a report backed by less guesswork and more notable facts.
Bitcoin has been stuck on the USD 6000 mark for quite some time (Support Zone 1). Being the least optimistic in this sense gives us a bearish $7100 thread-line as a good enough resistance point. It has been so in the past on many openings this year as the volume kept going uphill. A major resistance would be the yearly pivot at USD 11500 for profits.
Price drops below USD 6000 will trigger support zones at $4500 (Support Zone 2) and $3000 (support Zone 3) while worst case scenario leaves Bitcoin at USD 1200 (Support Zone 4). All of these support zones will make good retest resistances in the future if prices landslide.
Ethereum can expect to see a downfall too. If that happens it is likely to be placed in the 2 zones mentioned below:
Support Zone 1: $200 to USD 140
Support Zone 2: $100 to USD 80
Not to forget that the $50 marker can be used to test for a new resistance and on the contrary, expected resistances come at $300, larger at $380-$400 and the major resistance at USD 500.
Long-term trading plans identical to this one serves as a basis for making the right move. Price fluctuations are subject to investors’ interest and can be predicted with surplus data records.