BTC/USD, ETH/USD, DXY: technical Outlook, Edition #37 (30/06/21)
Bitcoin surged above its D1 20 EMA (GREEN) resistance and reached a high of USD 36.7K - before cooling off…
BTC/USD now sits around USD 35K, riding both D1 20 EMA (GREEN) and macro 0.5 Fibonacci retracement zone as newfound support.
A green-tinted block on the D1 BTC/USD chart intends to forecast the optimum entry on a BTC/USD pullback.
Bitcoin, BTC/USD - Daily (D1)
Conversely, Ethereum remains below its D1 20 EMA (GREEN), located at USD 2175.
If BTC/USD holds the line at USD 35K, then ETH/USD will likely follow and flip its D1 20 EMA into support.
We've mapped the expectation on the D1 ETH/USD chart below.
Ethereum, ETH/USD - Daily (D1)
Lastly, the
DXY (US Dollar Strength) has also paused its relief rally or short squeeze for the time being.
This consolidation bodes favourably for cryptocurrency, BTC/USD and ETH/USD pullbacks to their respective D1 20 EMA's might be a good opportunity for buyers to continue staggering entries.
US Dollar Currency Index,DXY - Daily (D1)
Q's Conclusion
Confidence will flow into Ethereum once Bitcoin edges higher and accepts USD 35K as support.
Until then, it is prudent to monitor the intentions of erraticDXY price-action closely.
See you again for the next update.
- q
BTC/USD now sits around USD 35K, riding both D1 20 EMA (GREEN) and macro 0.5 Fibonacci retracement zone as newfound support.
A green-tinted block on the D1 BTC/USD chart intends to forecast the optimum entry on a BTC/USD pullback.
Bitcoin, BTC/USD - Daily (D1)
Conversely, Ethereum remains below its D1 20 EMA (GREEN), located at USD 2175.
If BTC/USD holds the line at USD 35K, then ETH/USD will likely follow and flip its D1 20 EMA into support.
We've mapped the expectation on the D1 ETH/USD chart below.
Ethereum, ETH/USD - Daily (D1)
Lastly, the
DXY (US Dollar Strength) has also paused its relief rally or short squeeze for the time being. This consolidation bodes favourably for cryptocurrency, BTC/USD and ETH/USD pullbacks to their respective D1 20 EMA's might be a good opportunity for buyers to continue staggering entries.
US Dollar Currency Index,
DXY - Daily (D1)Q's Conclusion
Confidence will flow into Ethereum once Bitcoin edges higher and accepts USD 35K as support.
Until then, it is prudent to monitor the intentions of erratic
DXY price-action closely. See you again for the next update.
- q
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