Authored by TD Markets
As the global financial markets continue to evolve and adapt to changing economic conditions, traders are closely monitoring key assets for potential trading opportunities. In today's analysis, we will discuss the anticipation and expectations of investors regarding the continuation of three major assets: BTCUSD, US30, and NAS100.
The BTCUSD (Bitcoin) Performance
(UPDATE) - BTCUSD might have completed a bullish continuation structure.
BTCUSD recently formed a low of around $25746.00, which is close to the demand zone.
This low could form part of a continuous structure if combined with the 2 highs and the previous low which develops the descending channel. This price action then means that Bitcoin might not drop to the demand zone and the support zone, and could resume the trend from current levels. As such, traders anticipate a rally back to $28000.00
The NAS100 Performance
(UPDATE) - A higher low has developed.
NAS100 recently bounced from the support zone and created a 3rd higher low of the inner structure. This price action is in confluence with the overall bullish structure. As such, traders anticipate the recent price action to continue the trend and rally to $13484.00.
The US30 Performance
(UPDATE) - US30 is failing to break below the ascending trendline.
US30 recently rejected the bottom of the channel and formed a double bottom before pushing back above the resistance zone. The overall structure has not changed and the market is still bullish. As such, traders anticipate the market to rally to the upside and break above the resistance zone to indicate bullish momentum.
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Final thoughts on today’s analysis
Traders are keeping a careful eye on the continuations of BTCUSD, US30, and NAS100, anticipating additional gains. The developing cryptocurrency ecosystem, combined with Bitcoin's rising popularity, has piqued the interest of both institutional and individual traders. Meanwhile, the US30 and NAS100 continue to be important benchmarks, representing general health and direction. To learn more about our daily analysis, follow our YouTube channel to get more insights.
