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U.S. Equities continue to get hit, Dow Jones now down more than 1,000 points

Bitcoin (BTC/USD) & Ethereum (ETH/USD): Charts Point to a Move Coming

Bitcoin (BTC/USD) & Ethereum (ETH/USD): Charts Point to a Move Coming

Paul Robinson, Strategist

BTC/USD & ETH/USD Technical Outlook

  • BTC/USD wedge ready to break soon
  • ETH/USD wedge looks to hold same fate
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Bitcoin (BTC/USD) & Ethereum (ETH/USD) Move Coming Based on Charts

BTC/USD is forming a wedge on the 4-hr chart within the context of a downtrend off the earlier month high. It could lead to some big levels and trend support below, but can’t rule out an upside breakout that ends the recent bout of weakness.

ETH/USD is of course following a similar path with the development of a wedge, and will break the same direction that BTC breaks.

For the full details, watch the video above…

BTC/USD 4-hr chart

btcusd 4-hr chart

BTC/USD Chart by TradingView

ETH/USD 4-hr chart

ethusd 4-hr chart

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---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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