Amid Bitcoin's continuous consolidation below the $61,000 price mark, trading guru Peter Brandt has shared his outlook for Bitcoin and Ethereum. Both assets have struggled to maintain strong rallies and have seen consistent declines.
Brandt identifies a 'megaphone' pattern on Bitcoin's weekly and daily charts, signaling potential major moves. However, he notes that a clear trend has yet to emerge.
Brandt dismisses the significance of diagonal resistance and emphasizes other levels. He also remains cautious on Ethereum, identifying $3,050 as a key resistance point. Until Ethereum closes above this level, a bearish bias may persist.
Both Bitcoin and Ethereum have been struggling recently. Bitcoin has ranged between $59,000 and slightly above $60,000, while Ethereum has ranged below $3,000. Current prices are $59,445 for Bitcoin and $2,590 for Ethereum.
