Cryptology outlined price movement scenarios for Bitcoin and Ethereum
On August 19, 2024, Bitcoin is trading above $58,000, and Ethereum is in the $2,550 zone. Cryptology experts studied the market situation and predicted the further price movement of these assets.
Bitcoin
The situation has not changed since the previous forecast. We are still waiting for the close of August to see the consolidation of Bitcoin and a number of other assets that are traded against it.
Bitcoin is in consolidation, maintaining the structure of the global period.
Most likely, the first cryptocurrency will move without serious impulses in both directions.
Ethereum
The situation with Ethereum is much more complicated than with Bitcoin. We still have not received an ideal close of the monthly candle. If we cannot close August above the previous minimum, this will be a signal for further decline. We are leaning towards the option of absorption of the monthly bar already in September.
We are expecting weeks of consolidation - including in the Ethereum to Bitcoin trading pair. The bull market requires patience - only in this case can we count on a positive result.
