Authored by TD Markets
The BTCUSD Performance
There is another bull run on the rise with this pair. We have seen the price reach our target at 42547.38 and extend further up creating another higher high.
The target in sight is at a price point of 51134.42, this is not a new price, it is returning to previous levels seen before.
Please note that this should not be used as advice, but support that can assist clients to make a more informed decision. Risk Management must be applied on a strict basis.
The ETHUSD Performance
The correlation between BTC & ETH is positive, although they move with delayed momentum. We have seen the break of 2137.42 and the price ironing out in a consolidation zone. The breakout above the range is what traders need to time on this pair before entering. The target is set at a price point of 3061.71, these are not new levels, just the price returning to where it has been before.
Please note that this should not be used as advice, but support that can assist clients to make a more informed decision. Risk Management must be applied on a strict basis.
The AUDUSD Performance
The USD saw strength at the beginning of the year in data figures relating to job creation, however, the technical strength of the USD still needs to happen. This pair is currently bearish, should the USD strengthen, more downside is expected. A break below the current low is what we are waiting for, a price level of 0.66722. The target in sight is at a price point level of 0.65326.
Please note that this should not be used as advice, but as support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis.
Final Thoughts On Today’s Analysis
In conclusion, the analysis of BTCUSD and ETHUSD reveals a prevailing bullish sentiment, indicating a potential continuation of the ongoing bull run. BTCUSD has successfully reached and exceeded the target at 42547.38, now eyeing a return to previous levels around 51134.42. Similarly, ETHUSD showcases a positive correlation with BTC, breaking the 2137.42 resistance and entering a consolidation phase. Traders are advised to time their entry during the breakout above this range, targeting a level of 3061.71. Subscribe to our YouTube channel for more news updates.
