Dukascopy Bank Team
Dukascopy Bank SA
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.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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