Dear Friends,
In this next News Flash, we have more updates from my crypto broker.
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25-Jul London
BTCUSD led the charge and took everyone for a joy ride on the back of ETF approval rumours out of the US. BTCUSD pierced through 7400$, 7800$ and 8320$ handles with ease. However, technical indicators are showing signs of overbought conditions, and the trading pair MUST close above 8300$ line to sustain its bullish momentum.
ETHUSD also had a stellar performance over the week. It’s currently trading above 474$ after teasing the 484$ major resistance level. Indicators are pointing towards overbought conditions. We expect a pullback and the pair to range within 460$-484$.
The strength of BTC is particularly stark from how ETHBTC cross is trading. Market has been switching ETH for BTC, breaching the recent support handle 0.06 with ease. The cross seems to have stalled near 0.05695 handle; expect it to consolidate and range from here.
Indic: BTC 8262/8302 ETH 471/475
Here are the charts:
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And there you have it - a great bullish run for BTC, can it keep up?
What goes up must come down and well since it is down, it should go up?
Till next time!
Cheers!!
