Increased volatility could have been spotted on the stock markets recently. US elections as well as positive vaccine news were the reasons behind it. However, the rally on the equity indices has eased since. Meanwhile, uptrend on the cryptocurrency markets continues. Let's look at the technical situation on US30, DE30 and Bitcoin.
US30
US30 has been trading in an upward trend recently. The index surged to the all time high but bulls had a problem with jumping further. The upward move stopped at the exterior 127.2% Fibonacci retracement (29,990 pts) and correction move may be on the cards. However, as long as the price sits above the support at 29,450 pts it is too early to talk about a bigger sell-off. Sentiment remains upward and if buyers manage to break above the aforementioned 29,990 pts handle the next resistance to watch can be found at 31,120 pts, where the next Fibonacci retracement is located.
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US30 D1 interval. Source: xStation5
D30
DE30 has been trading in an upward trend recently, just as indices from the other parts of the world did. However, taking a look at a daily time frame, we can see that the German index remains stuck above the earlier-broken upward trendline. In case buyers manage to break above the red rectangle, the next resistance level to watch can be found at 13,420 pts (September's highs). In case we see such a break, the index could rally towards the all-time high at around 13,800 pts. Area at 12,950 pts remains the nearest support to watch and in case it is broken, a bigger downward move may follow.
DE30 D1 interval. Source: xStation5
Bitcoin
Bitcoin is trading at the highest levels this year. The upward move is being extended each week and if the situation continues, attack on the all-time high in the $19,600 area may be on the cards. In case of a correction, the nearest support can be found at located around $17,000, and the next one in line is marked with the lower limit of 1:1 structure.
Bitcoin D1 interval. Source: xStation5
