Bitcoin breaks through the final resistance as Ethereum returns to $ 2,000

On April 2, Bitcoin ( BTC ) temporarily surpassed $ 60,000 driven by renewed momentum in its slow advance towards all-time highs.

BTC / USD hourly chart (Bitstamp)
BTC / USD (Bitstamp) hourly chart. Source: Tradingview

The price of BTC touches $ 60,000

Cointelegraph Markets Pro and TradingView reported a sustained uptrend for BTC / USD, with local highs at $ 60,110 on Bitstamp. A correction thereafter pushed the pair down to $ 59,000, and is hovering around $ 59,420 at the time of writing.

Consistently higher levels indicate that Bitcoin effectively canceled the flash crash that occurred this week, continuing to move in a defined range.

According to well-known Crypto trader Ed, the resistance at $ 60,000 is set to disappear due to the depleting selling pressure on exchanges . However, targets above $ 70,000 may have to wait a little longer.

“ I mentioned targets of $ 73,000 for BTC and $ 2,300 for ETH, ” he tweeted on Friday.

“From what I see now, ETH is on track. I am still not convinced that BTC will hit the target in this cycle but I believe we will see a strong push above $ 60,000 (soon enough). “

Other traders are more optimistic, with short-term estimates such as $ 68,000 and $ 73,000, as well as 2021 targets above $ 288,000.

Buy and Sell Levels in BTC / USDT (Binance), April 2nd
Buy and Sell Levels in BTC / USDT (Binance), April 2nd. Source: Material Indicators

” In February, the area of ~ 57,500 $ dismissed BTC, but it seems that a few days ago has transformed this same level of support, ” he added the trader Rekt Capital on Twitter.

“Now he has to draw a continuation from here, and today we are seeing a part of it.”

Ether at $ 5,000 is “inevitable”

Crypto Ed’s comments on Ether ( ETH ) come as the largest altcoin in terms of market cap hits $ 2,000 for the first time since February 20 .

After falling parallel to Bitcoin’s price action, over the past week ETH / USD has regained its strength, plotting almost constant rising highs on the daily chart until it comes close to its all-time high of around $ 2,040.

ETH / USD Hourly Chart (Bitstamp)
ETH / USD (Bitstamp) hourly chart. Source: TradingView

As Cointelegraph reported , Ether price targets are now more bullish than ever and include $ 2,600 as the next stop , with $ 5,000 and even $ 10,000 as options at stake.

Since the beginning of the year, the amount of ETH on exchanges (such as that of BTC) continues to decline sharply.

ETH reserves on exchanges vs. ETH / USD
ETH reserves on exchanges vs. ETH / USD. Source: CryptoQuant

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