Bitcoin (BTC), Ethereum (ETH) - Prices, Charts, and Analysis:

Bitcoin has been treading water for the last three weeks with little to suggest either a move higher or lower.

Bitcoin (BTC) has been largely range-bound for the last three weeks with little in the way of either bullish or bearish set-ups on the daily BTC/USD chart. However, the broader trend remains bullish, with all three simple moving averages in a bullish set-up and supporting a move higher, while a short-term series of higher lows and higher highs since the start of May is adding to positive momentum.

A break and open above $70k should quickly see $72k tested, leaving the all-time high at $73,778 vulnerable. With demand from a range of global spot Bitcoin exchange-traded funds (ETFs) outpacing post-Bitcoin halving new Bitcoin supply, the medium-to-longer outlook for Bitcoin looks constructive.

Bitcoin Halving – What Does It Mean?

Bitcoin Daily Price Chart (TradingView)

Second-largest cryptocurrency by market cap, Ethereum (ETH), has performed strongly since late May, following recent U.S. Securities and Exchange Commission (SEC) approval for a range of spot Ethereum ETFs.

The near 20% bullish candle on May 20 and the subsequent period of consolidation is setting up a rough bullish flag pennant, again pointing to higher prices. The March 12 high at $4,095 should be tested when the May 27 high at $3,974 is broken, leaving the November 2021 all-time high at $4,860 the longer-term target.

Pennant Patterns: Trading Bearish and Bullish Pennants

Ethereum Daily Price Chart (TradingView)

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