Bitcoin is holding over $ 13,000 in a 1% move on the first day of the new week. The general outlook in foreign indices is weak and with sellers. When the S & P500 - BTC correlation is prioritized, the outlook in the indices does not reflect positively on the cryptocurrency market, but the institutional investor appetite keeps BTC around $ 13,000. While the risks of incentive package uncertainty continue, if a deal is reached until tomorrow, it may reflect positively on cryptocurrencies as a new positive news flow. BTC continues to increase its share of market dominance. Bitcoin last week had its highest weekly close since January 2018.

When we look at BTCUSD technically, the minor uptrend that formed in addition to the main trend continues to be up to date. While the flag formation between $ 11,700-13,200 gives positive signals for the continuation of the trend, the narrow band $ 12,800-13,200 levels will be followed during the day.

Ethereum fell 5% behind Bitcoin last week in weekly returns. After the presence of Ethereum among the cryptocurrencies that PayPal will intermediate in trading, there was a rapid rise and it moved Ethereum from $ 360 to $ 400. According to Coinmetrics data, the number of addresses with Ethereum between $ 1 and $ 10 in their wallet reaches 15 million, while in Bitcoin this number is half that of Ethereum with 7.5 million.

When we consider ETH / USD technically, as we mentioned in our weekly technical analysis video, the double bottom view that occurs in the weekly period continues. ETH also forms a horizontal band in the range of $ 402-422 in the daily period, because if $ 402 breaks down, the momentum may weaken. Therefore, the $ 402 level will be followed for reactions.