Bitcoin, which increased over 28% during the week, set a new ATH today at $ 49,000. The cryptocurrency surpassed the previous consolidation model at the beginning of the month and started to rise last week.
Bitcoin broke a record again today
On Monday, BTC climbed from $ 38,800 to reach resistance at $ 46,427 (1.618 Fib Extension – red). It created a rising price channel there. It took a few days for BTC to exceed this level.
Today, Bitcoin moved the new ATH to $ 49,000.
Looking ahead, the initial resistance level is $ 50,000 and the upper end of the price channel. This is followed by 50,400 (1,414 Fib Extension – yellow), 51,378,53,400 (1,272 Fib Extension – purple) and $ 54,500 (1,618 Fib Extension – yellow).
On the other hand, initial support lies at $ 46,427. This is followed by $ 45,000, 44,175 (.236 FIb), 42,000 (previous ATH and lower bound of the price channel) and $ 40,735.
Binance Coin (BNB) price analysis
BNB experienced an extraordinary price boom of 145% last week. It is trading at $ 70 as it started to rise last Friday. BNB continued to rise over the week until it met the $ 148.37 (1.618 Fib Extension) resistance on Wednesday.
It failed to overcome this resistance and dropped from there to meet the $ 121.70 (0.236 Fib) support. Today, BNB has recovered and is currently trading at $ 137.70 (1,414 Fib Extension).
Looking ahead, if buyers break $ 137.70, the initial resistance is at $ 148.37 (1.618 Fib Extension). Above $ 150, resistance is then 160,170.93 (1,272 Fib Extension – orange), 182.87 (1.414 Fib Extension – orange), $ 190 and $ 200.
On the other hand, initial support lies at $ 130. This is followed by 121.70 (0.236 Fib), 110, 105 (0.382 Fib), 100 and $ 91.65 (0.5 Fib).