Bitcoin Loses Momentum After Powell’s Speech, Ethereum Forms a Warning Doji

Bitcoin: Lower High Reinforces Bearish Outlook Bitcoin (BTC) retreated back to levels around $112,000 after Friday’s rally sparked by dovish comments from Fed Chair Jerome Powell. The cryptocurrency briefly spiked to $117,440, but quickly faced strong resistance. The technical picture looks bearish:

🔹 The recent peak formed a lower high near a broken trendline, signaling weakness.

🔹 The GMMA (Guppy Multiple Moving Average) indicator shows short-term EMAs crossing below long-term EMAs, confirming waning momentum.

🔹 On the weekly chart, the MACD histogram has opened the new week below zero, suggesting accelerating downside momentum. Key support sits at $110,756 (Ichimoku cloud bottom), while stronger support aligns with the 200-day SMA near $100,000. Bulls, on the other hand, must reclaim Friday’s top of $117,440 to revive hopes of a sustained uptrend. 🔹 Support: $110,756, $100,887, $100,000

🔹 Resistance: $117,440, $120,000, $122,056

Ethereum: Doji at the Top Signals Market Indecision Ethereum (ETH) printed a doji candle on the daily chart over the weekend, with a long upper wick that reflects market indecision. Bulls pushed the price higher, but bears forced it back down before close. While a doji alone doesn’t guarantee reversal, combined with other signals it highlights fading momentum:

🔹 The RSI continues to form lower highs, creating a bearish divergence against price action.

🔹 Such divergence often precedes corrections or consolidation phases. ETH currently trades around $4,624 (–3% on the day). The nearest support sits at $4,065, where ETH bounced on August 20. Further downside levels are $4,000 and $3,805 (50-day SMA). To aim for fresh highs, ETH must break above $5,000. 🔹 Support: $4,065, $4,000, $3,805

🔹 Resistance: $5,000, record highs

Overall, both Bitcoin and Ethereum are showing signs of losing bullish momentum. Bitcoin struggles to hold above $117K, while Ethereum flashes a classic doji warning at its all-time highs.

#bitcoin , #Ethereum , #CryptoNews , #CryptoAnalysis , #blockchain

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