BTC, ETH Price Analysis: Indicators Point to Suprising Movement
- BTC and ETH lost a considerable part of their values in the last seven days.
- Bitcoin’s price might increase to $65,521 where the 1.618 golden ratio was situated.
- Declining CMF suggests another ETH decrease before a bounce off the lows.
Bitcoin (BTC) and Ethereum (ETH) prices have failed to put up a good show in recent times. At press time, BTC changed hands at $60,967, ETH, on the other hand, lost its grip on $3,000 while trading at $2,914, according to CoinMarketCap.
With mid-month closing in, traders are concerned that the price would end May with a postive return or otherwise. Coin Edition looks at the possibility and price targets of BTC and ETH.
BTC Price Analysis
According to the BTC/USD 4-hour chart, a bounce could be in place for the coin soon. This was shown by the Fibonacci indicator.
On the chart, the 0.236 Fib level was at $60,935, indicating that Bitcoin might reached its lowest pullback point. On the upside, the 1.618 golden ratio was at $65,521, meaning that the short-term target of the coin could be around this region.
However, a highly bullish scenario could send BTC to $7…
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