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Patterns: BTC/USD, ETH/USD

Patterns: BTC/USD, ETH/USD
Dukascopy Bank TeamDukascopy Bank TeamDukascopy Bank SA

BTC/USD daily 4H chart: Consolidates below $40,000

The Bitcoin cryptocurrency has been consolidating below the $40,000 level since the middle of May.

The world's largest crypto by market capitalization, declined by 10% during last week's trading sessions.

Technical indicators suggest selling signals on the 4H, daily and weekly time-frame charts. Most likely, sellers could continue to pressure the BTC/USD pair lower during the following trading sessions.

On the other hand, the Bitcoin versus the USDT could continue to trade within the $30,000/$40,000 range during next week's sessions.

BTCUSD

ETH/USD daily chart: Fails to surpass 50-day SMA 

The Etheruem cryptocurrency edged higher by 28.93% against the US Dollar during last week's trading sessions. The surge was stopped by the 50– day simple moving average.

The second-largest cryptocurrency by market capitalization failed to surpass the 50– day SMA.

Technical indicators suggest selling signals on the 4H time-frame chart. The exchange rate could continue to edge lower this week.

However, sellers are likely to encounter support at the $2,000 level during the following trading sessions. 

ETHUSD

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Dukascopy Bank Team

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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