Patterns: BTC/USD, ETH/USD
|BTC/USD 4H Chart: Likely to edge lower
The Bitcoin cryptocurrency has depreciated about 12.59% in value against the US Dollar since October 27. The exchange rate breached the 200– period simple moving average during yesterday's trading session.
As for the near future, the BTC/USD cryptocurrency will likely edge lower during next week's trading sessions. The possible target will be near a support cluster formed by the weekly S3 and the monthly S1 at 7759.1.
If the support cluster holds, a potential upward reversal could occur during the following trading sessions.
ETH/USD 4H Chart: Daily buy signals
The Ethereum cryptocurrency has depreciated about 5.60% in value against the US Dollar since November 6.
All things being equal, the ETH/USD pair will most likely continue to decline during next week's trading sessions. Bearish traders could target a psychological support level at the 175.00 regions.
However, technical indicators flash buy signals on the daily time-frame chart. Therefore, the pair might reversal from the current price level at 186.10 and makes some upside movement during the following trading sessions.
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