Patterns: BTC/USD, ETH/USD
BTC/USD tests $65K mark
The Bitcoin cryptocurrency has declined by 11.48% against the US Dollar since October 20. The blockchain retraced from the previous all-time high at the $65K mark last week.
Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the world's largest crypto by market cap could make a retracement towards the $52K level during the following trading sessions.
On the other hand, the BTC/USD cryptocurrency exchange rate could reverse from the current price level at $60K and target the 75,000.0 level during the coming weeks.
ETH/USD breached 4300.00
The Ethereum cryptocurrency has edged higher by 15.25% against the US Dollar since October 20. The world's second-largest cryptocurrency breached the 4300,00 on October 29.
All things being equal, the exchange rate could continue to surge in an ascending channel pattern during the following trading sessions. The potential target for buyers will be near the $5k mark.
However, the ETH/USD cryptocurrency exchange rate could encounter resistance at 4500.0 in the shorter term.
Author
Dukascopy Bank Team
Dukascopy Bank SA
Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.
