Bitcoin and Ethereum remain bullish

Both Bitcoin and Ethereum remain within overall bullish setups. Breakout point supports are holding, and there is plenty of room to upside pattern counts.

Bitcoin: Breakout holds with upside potential to 124,000 and 142,000

Bitcoin defended support at 19,300-107,200 (breakout/retest zone and rising 26-week moving average), keeping the late 2024-mid 2025 base breakout intact. This suggests upside back to the July and August peaks at 123,200-124,532 (also the upside count for the 2021-2024 cup and handle) and potentially beyond toward the target of the late 2024-mid 2025 base at 142,000.

Rising 26- and 40-week moving averages at 107,725 and 102,567, respectively, reflect a bullish trading cycle. Weekly closes above the 13-week moving average at 114,966 would reinforce this positive cycle, increasing bullish conviction for Bitcoin.

Chart 1: Bitcoin (BTC/USD)

Ethereum: Breakout holds with upside potential to 4900 and then 6325

Ethereum held its big breakout support at 4100-3860. Staying above this level, which is reinforced by the rising 13-week moving average at 4091, would keep the late 2021-mid 2025 triangle breakout intact with upside potential to the November 2021 and August 2025 highs at 4865-4955 and potentially higher with targets for the triangle at 6325 and 7500.

Rising 26- and 40-week moving averages at 3166 and 2981, respectively, reflect a bullish trading cycle, but sit well below current levels. Continued weekly closes above the 13-week moving average at 4091, which survived downside tests in late September, would reinforce this positive cycle, increasing bullish conviction for Ethereum.

Chart 2: Ethereum (ETH/USD)