Dukascopy Bank Team
Dukascopy Bank SA
BTC/USD 4H Chart: Bulls likely to prevail
The Bitcoin cryptocurrency has surged by 19.93% against the US Dollar since last week trading sessions. The BTC/USD currency pair tested the $12,000 mark on August 2.
All things being equal, the exchange rate will most likely continue to trend bullish during the following trading sessions. The cryptocurrency could target the $13,000 level next week.
However, the resistance cluster formed by the weekly R1 and the monthly R1 at 12155.9 could provide resistance for the cryptocurrency exchange rate in the shorter term.
ETH/USD 4H: Likely to maintain channel
The Ethereum cryptocurrency has surged by 33.20% against the US Dollar since last week sessions. The ETH/USD currency pair breached the weekly resistance level at 385.4 on August 5.
Technical indicators flash buying signals on all time-frame charts. Most likely, the exchange rate will continue trading in an ascending channel pattern during the following trading sessions.
However, the cryptocurrency exchange rate could encounter a resistance cluster at 424.9 in the shorter term.
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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