BTC/USD, ETH/USD: Technical Outlook, Edition #35 (28/06/21)

BTC, ETH charts and forecasts to kick off the weekly session. Stay frosty with uncertainty in $DXY price-action and see what to look out for in Q's Conclusion at the end of this Monday edition

Pain from surging dollar strength still fresh for many. Glimmers of hope with signs of USD bears returning

Bitcoin flipped both the H4 20 EMA (GREEN) and 50MA (RED) at USD 33K. 

We can see pictured below BTC/USD is now beginning to flirt with the H4 200 MA, which is currently resistance. 

Bitcoin, BTC/USD - 4 Hour (H4)

Moving from H4 to D1, we can now see Bitcoin making a run for the D1 20 EMA at USD 35K, using the macro 0.5 Fibonacci retracement zone as support. 

Bitcoin, BTC/USD - Daily (D1)

A bullish reversal does look promising; however, the bulls have a lot of work ahead of themselves. 

To be confirmed, Bitcoin needs to flip the D1 200 MA (BLUE) at around 44K USD. 

It's a similar story for Ethereum on the charts.

Let's take a look and the H4 and D1 charts for ETH/USD below as it works up the courage to try to kiss the D1 20 EMA (GREEN) 

Ethereum, ETH/USD - 4 Hour (H4) 

Ethereum, ETH/USD - Daily (D1)

Q's Conclusion

Monitoring USD strength is critical at this precarious time.

Should the $DXY strength unsuccessfully hold the D1 200MA as support, then Bitcoin, Ethereum and all markets uncorrelated to the U.S Dollar will likely experience a rush of renewed buyer confidence.

See you again for the next update.

- q

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