Patterns: BTC/USD, ETH/USD
|BTC/USD 4H Chart: Flag pattern formation
The Bitcoin cryptocurrency has appreciated about 10.90% in values against the US Dollar during the last week. The pair breached both the 50-, 100– and 200-hour SMAs within this short period.
The BTC/USD pair has formed an upside flag pattern. From a theoretical point of view, it is likely that the pair continues its upward movement within this session. Meanwhile, technical indicators flash bullish signals on the daily time-frame chart.
However, the pair could reverse from the current price level at 3637.5 and aim at the 100-hour simple moving average at 3399.6 during the following trading sessions.
ETH/USD 4H Chart: Buy signals today
The Ethereum cryptocurrency has appreciated about 20.52% in values against the US Dollar during the past week. The pair breached the 200-hour simple moving average at 123.4 during last Friday's trading session.
As for the near future, it is likely that the ETH/USD pair continues its upward journey and probably target the 150.00 area. Furthermore, technical indicators flash buy signals on both the 4(H) and the daily time frames.
On the other hand, the blockchain could reverse from the current price level at 125.6 and aim for a support cluster formed by the combination of the 50– and 100-hour SMAs at 119.2 during the following trading sessions.
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