Bitcoin (BTC) has been testing the 21 EMA on the 1H time frame for a long period of time and it has eventually broken past that. We have finally seen an uptrend begin and the price could rally higher from here. It might be trading higher than where it is now by the time you watch this video analysis. All of that seems bullish and points to the possibility of BTC/USD making a comeback. There is a falling wedge on the daily chart for BTC/USD that will lead to further upside sooner or later. Short term we can see the price drop further within this wedge but eventually we expect it to break a lot higher to inflict more pain on the bears. That being said, it may yet inflict more pain on the bulls for now.
Taking a look at the ETH/USD chart, we see a similar falling wedge that is a bullish setup for Ethereum (ETH) but traders have to be cautious here because as long as the price remains within the falling wedge, we can only expect that it may end up testing the top of the falling wedge but we cannot say that it will end up breaking the falling wedge just yet. There is room to go down in the case of Ethereum (ETH) same as with Bitcoin (BTC) and therefore we might see the price decline further to the next falling wedge before any trend reversal can follow. Any bearishness from this point forward is unlikely to last for long as we are long overdue for a big move to the upside from current levels.
The EUR/USD chart on the 4H time frame shows us something interesting.