Major test for crypto bulls – BTC and ETH

Bitcoin has dipped below $118,000, putting pressure on the bullish structure that’s held for the past two weeks.  

The attempted breakout above $121,000 has failed, and price is now breaking down through the middle of the consolidation range, threatening short-term higher lows. On the 4H chart, this move resembles a failed breakout with a potential double-top near $121,000. 

If Bitcoin can’t reclaim $116,000 quickly, the next downside levels to watch are $114,000 and $110,000. 

Ethereum, meanwhile, has stalled just below $3,800 after a strong rally this month. Price action has flattened out over the past few days, with several failed attempts to push through that level. The key upside trigger remains $4,000. 

But if $3,700 gives way, ETH may slide back to the $3,450–$3,300 region, where previous resistance and the rising trendline converge. 

For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.        

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