This past week, BTC price has been hovering around the $9,500 mark. Currently, it is trading at $9,375 during the time of writing.
BTC price has tested $9K time and time again over the past week as bears prepare to push the asset under that crucial support to confirm a bear trend.
However, there was an eventual break above a major bullish flag pattern with resistance near $9,340, which has opened the doors for more gains above the $9,350 level.
The main level of support is currently forming around $9,080, below which there is a possibility for a massive decline below $9K in coming trading sessions.
Bitcoin Could Soon Revisit $10,000
Despite the bearish sentiment around BTC over the past few days, an analyst that made an extremely accurate prediction back in 2018 has suggested that Bitcoin may soon see some bullish relief and rally to the upside.
And now, Smart Contractor has another forecast that BTC is primed to rally over the coming days, referenced in the chart below, which points to BTC price breaking out of a typical bull flag.
Looking ahead, BTC price is definitely in good shape to retest $10K, but the bullish scenario is dependent on the flagship crypto holding up on the $9,200 support level.
If $9,200 holds, then a retest of $9,600 will follow, after which a rally toward $10K should be expected.
ETH is Gathering Pace from Key $225 Support
This past week, Ethereum plunged lower after it failed to clear the $235 resistance. ETH price broke the $230 support level and settled at the $231 at the time of writing.
That said, the price of the second-ranked cryptocurrency is showing a lot of positive signs, and it might continue to rise towards the $232 with the main resistance is still near the $235 level.
A successful close above the $235 resistance could lead the price further higher to test $240, above which it could test $250.
This growth could be driven by the news that Startup Matter Labs has just launched a beta-version of Ethereum sided-chain with a capacity of up to 2000 transactions per second.
Even though the impending implications of Ethereum 2.0’s launch are unpredictable, as it will impact miners and investors differently, the perspective in the market seems to be positive toward the change, and ETH prices could benefit.