Dukascopy Bank Team
Dukascopy Bank SA
BTC/USD 4H Chart: Bullish sentiment
The Bitcoin cryptocurrency has appreciated about 29.27% in value against the US Dollar since July 29.
The currency pair was trading above the weekly R1 at 11667.6 during the morning hours of Friday's trading session.
Most likely, the BTC/USD pair could continue its bullish momentum during next week's trading sessions.
Although, it is expected that the pair makes a brief retracement towards a support cluster formed by the 200– period simple moving average and the monthly pivot point at 10822.2 in the short-term.
ETH/USD 4H Chart: Moving towards target
The Ethereum cryptocurrency has been trading in a horizontal channel against the US Dollar since mid-July.
The currency pair reversed from the upper band of the channel at 240.03 on August 5 and gradually moving towards the lower boundary of the horizontal channel at 208.60.
Everything being equal, it is likely that the ETH/USD pair could continue moving sideways in the nearest future.
A potential upside reversal from a support level formed by the weekly S1 at 208.60 could occur during next week's 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.
Recommended Content
Editors’ Picks
Crypto Today: Bitcoin gets less interest from traders, Ethereum ETF could attract $5 billion inflows
Bitcoin market sees a decline in volatility per on-chain data from Crypto Quant. Bitcoin ETFs saw a net inflow of $129 million on July 1; on-chain analysts predict a relief rally in BTC.
Ripple escrow timelocks expired on Monday, one billion XRP unlocked as altcoin ranges above $0.47
Ripple (XRP) escrow unlocked 1 billion tokens on Monday as part of the planned unlock until January 2025. XRP hovers around $0.48 early on Tuesday, adding more than 1% to its value on the day.
Bitcoin holds above $61,000 as Daily Active Addresses is highest since mid-April
US spot Bitcoin ETFs registered slight inflows on Monday. On-chain data shows that BTC's daily active addresses increased, signaling greater blockchain usage. German Government transferred 1,500 BTC, valued at $94.7 million, out of its wallet on Monday.
Chainlink poised for a rally as whales buy the dips
Chainlink’s price bounced from the weekly support level at $13.15 and extends recovery on Tuesday. On-chain data shows that whales have accumulated 2.08 million LINK in the past seven days.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.