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Crypto currencies: Technical Analysis, October 12th, 2020.

By Dukascopy Bank in Bitcoin 515 views 12th Oct, 2020 Video Duration: 00:07:14

Crypto-currencies are following risk assets and EUR/USD, and have been rebounding with them since late September. We expect this bounce to continue another week or so, but would then prepare for a further period of short term retracement into and in the direct aftermath of the US presidential election, probably into early/mid-November. They could then make marginal new lows to the ones made in September. We then expect Bitcoin and Ethereum to gradually resume their uptrend during late November and December and rise into next Spring, probably breaking above 13’000 on Bitcoin by then and perhaps approaching their late 2017 highs, Jean-Francois Owczarczak, Director, Management Joint Trust, and FinGraphs.com.


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