Ethereum is preparing for it, after setting up a new ATH. going towards $ 5,000

The crypto market is in euphoria as the bulls attempt to push Bitcoin price back near the USD 63,000 support area and Ether hit a new all-time high (ATH) at USD 4,460.

ETH / USDT. 4 hour chart | Source: TradingView

Analysts believe Bitcoin will find support over USD 60,000 and

Ether is expected to participate in pricing for the time being.

Bulls believe that BTC can hit $ 90,000

The upward movements in BTC and Ether caused a moment of reflection for the independent market analyst “Crypto_Ed_NL”.

https://twitter.com/Crypto_Ed_NL/status/1453345104186560512?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“I’ll be back on Friday but couldn’t resist drawing some random lines. Apparently, with $ 40,000, I wasn’t optimistic enough. The first goal is $ 73,000. Rubbing …. I think this target has increased to $ 90,000 and after correcting we should see $ 100,000. Very satisfied with the current discount. “

How exactly this scenario will affect the Ether price, Crypto_Ed_NL published a follow-up tweet describing the price action and a target of over 6,000 USD.

https://twitter.com/Crypto_Ed_NL/status/1453346525824917511?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“The race could bring ETH to over $ 6,000. The usual exclusions of liability are not required. If I’m wrong, I’m wrong, but I’m surprised I’m wrong. “

$ 85,000 is the next big hurdle for BTC

A closer look at Bitcoin’s price movement was provided by research firm Decentrader, which found that the 14% decline in BTC from $ 67,000 last week was “due to active margin traders expecting ATH and a brief breakout.”

Both longs and shorts were hit by the recent decline, according to Decentrader, after liquidating $ 120 million in shorts on October 20 and $ 100 million in longs the next day.

BTC price chart | Source: Tradingview

Now BTC price has “returned to the failed recovery point from May of this year,” which is currently “serving as support after a failed breakout.

“As a signal of the higher timeframe of the continuation of the uptrend, we see the 128DMA moving above the 200DMA. In previous bull markets, the price recovered sustainably after such transitions. On a technical, market cycle, and on-chain basis, we continue to believe that the next major problem area for BTC will not emerge until we hit $ 85,000 to $ 90,000. “

Ether is poised to head towards $ 5,000

The market analyst Michaël van de Poppe provides a possible scenario for the price development of Ether in the near future.

https://twitter.com/CryptoMichNL/status/1454049915458445322?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

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