Massive Cryptocurrency Technical Outlook

Massive Cryptocurrency Technical Outlook

2021-10-08 • Updated

The time for cryptocurrency has come! Bitcoin is once again looking interesting enough to analyze it. But digital gold is not the only one to watch after. In this article, we would like to give you some interesting crypto ideas for mid-term trades.

Bitcoin

That’s right, Bitcoin's weird moves are over! The price skyrocketed through the main resistance line, and we have gained enough momentum to continue the uptrend. The resistance at the RSI has been cleared as well. Now we expect the price to retest $49 000 and to soar higher. In the long-term, we believe the main crypto will renew its all-time highs.

BTC/USD daily chart

Resistance: 55 000; 61 000; 65 000

Support: 49 000; 45 000; 40 000

BTCUSDDaily.png

Bitcoin to gold chart is also interesting. Due to the inverse correlation of gold and USD, you may consider buying BTC/XAU pair when the dollar is especially strong.

BTC/USD H4 chart

Resistance: 31.5; 33.5

Support: 30.5; 29.0

BTCXAU.ccH4.png

Ethereum

After bitcoin finishes its strong uptrend movement and gives the market some rest, the Bitcoin domination will surely fall, like it does every time. This event is called “altseason” because other cryptocurrencies start to grow apart from BTC. This is a perfect opportunity to invest in other fundamentally strong projects. Ethereum is one of them.

ETH/BTC H4 chart

Resistance: 0.0665; 0.0676; 0.0698; 0.0715

Support: 0.0640

ETHBTC.ccH4.png

But if you are more into classic cryptocurrency trading (against the greenback), then ETH is still a thing for you to notice. Ethereum has formed a symmetrical triangle, and after some consolidation we expect it to soar. Mid-term targets are $5200 and $7400.

ETH/USD daily chart

Resistance: 4000; 4350; 4820; 5200

Support: 3300; 2750; 1700

 ETHUSDDaily.png

Litecoin

LTC has a divergence on the RSI, so while Bitcoin is making its moves, this coin may correct a little bit. Litecoin gets more and more use cases (it has started with PayPal, which accepted LTC as a payment method). In the short term $230 and $360 are the main targets. 

LTC/USD H4 chart

Resistance: 195; 210; 230

Support: 172; 160; 140

 LTCUSD.ccH4.png

LOG IN

Similar

XAUUSD: What To Expect Now.
XAUUSD: What To Expect Now.

Following the CPI data release on Tuesday, the price of Gold dropped from its recent high at $2,000 all the way through to the $1980 region where it is currently sitting. As we anticipate what could be next for the yellow metal ahead of the Retails sales data release from the US. In the meantime...

USD: CPI Carries The Dollar to Pivots
USD: CPI Carries The Dollar to Pivots

The higher-than-expected inflation data for January has reignited concerns about rising prices and its implications for Federal Reserve policy. While investors had anticipated rate cuts in the near term, the hot inflation print may delay such actions. As the Fed navigates the delicate balance between containing inflation and...

The January US CPI and Its Impact on EURUSD
The January US CPI and Its Impact on EURUSD

Today, Tuesday, February 13th, at 8:30 am New York time, the Bureau of Labor Statistics (BLS) releases US inflation data related to the Consumer Price Index (CPI). This data, considered high-impact, could generate significant changes in the perception of...

Latest news

AUD: Trade Ideas
AUD: Trade Ideas

Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...

NZD: The Week Ahead
NZD: The Week Ahead

Commerzbank's analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year's highs. However, robust labor markets in both New Zealand and Australia and an expected...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera