Struggle to reach new higher high 

• Today, the price of Bitcoin is trying to stay in the zone of around $23000.
• Today, the price of Ethereum has not moved far from its initial position.
• The continuation of Senator Elizabeth Warren’s attacks on cryptocurrencies.

Bitcoin chart analysis

Today, the price of Bitcoin is trying to stay in the zone of around $23000. It is currently a little lower at $22900, and slight bearish pressure is noticeable as we are unable to establish a new higher high on the chart. The moving averages are on the bearish side and further direct the price towards the lower support. Potential support is at the $22000 level. We should move above the $23000 level for a bullish option and try to stay above. After that, with a positive consolidation, the Bitcoin price could continue towards last week’s resistance zone at the $24,000 level.

Ethereum chart analysis

Today, the price of Ethereum has not moved far from its initial position. We had an attempt at a bullish impulse, and he was stopped at $1662. We are now back at the $1600 support zone, and it is possible that we will see a break below and a drop to $1500 the next support. For a bullish option, we need a positive consolidation and price jump to the $1700 level. After that, we need to go above and stay in that zone. Then we wait for a new bullish impulse that would move us first to the $1750 and $1800 levels. The transition from the 1800$ level is very important for us to continue towards the 2000$ level.

Market overview

The continuation of Senator Elizabeth Warren’s attacks on cryptocurrencies

Senator Elizabeth Warren is continuing her anti-cryptocurrency campaign, proposing legislation that would effectively shut down cryptocurrency services provided by banks, according to a Bloomberg report on Thursday.

Senator Warren from the Senate Banking Committee is urging committee members and senators to sign a letter to the OCC to keep Wall Street out of the cryptocurrency market. She asked banks to stop providing cryptocurrency services such as safekeeping. Committee members believe that by issuing crypto guidelines, regulators are allowing Wall Street banks to enter the market and putting the banking system at risk. She called decentralized finance (Defi) the “most dangerous” element of cryptocurrencies in 2021.

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