At the beginning of 2024, Bitcoin reached $45,000 again, and the Cryptology team expressed their predictions for the future of Bitcoin and Ethereum.
Bitcoin
The price of the asset has not yet reached the expected levels, so here we will refer to a re-test or, in case of error, a move down. But the first option is a priority.
For 28 days, quotes consolidate within this range. Now we only want to see the “tears” of late longs, who realized that it was time to buy long-term assets into the portfolio after four to five months. This is good news, since the current type of thinking and decision-making is like a food chain.
Here we are waiting for another seizure of liquidity upwards and a sharp decline downwards, against the backdrop of the adoption of the same spot Bitcoin ETF, but the news is different, so we will not focus on them.
Previously, we gave an example of the desired reaction of an asset in 2024. It is currently following this scenario, but we are also hoping for a new high and a sharp decline in large buy orders.
Ethereum
In this case, we see that the price has returned to the specified area. However, there are no obvious weaknesses, which indicates unrealized potential. Therefore, here we will focus on the correction against the background of the fall of Bitcoin, and then the repeated manifestation of strength with goals higher.
Here Ethereum shows strength and trades above $2156.37. If this level is lost, there is a high chance of a further fall and that the asset will get stuck below $2,156.37. But we should not forget that we can leave on impulse and then buy back when the candle closes.
Forecast for the ETH/BTC pair remains unchanged.
