Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Technical Analyst, Saxo Bank
Bitcoin BTCUSD has been rejected at 48,240 which is very close to the 0.618 retracement of the 2022 bear market at 48,547.
A close above will pave the road to 57,542 possibly back to the 2022 peak (and all-time high) at around 69K
Ethereum ETHUSD is trading in what seems like a rising channel pattern, currently testing resistance at around 2,445. If closing above there is no strong resistance until around 3,581
RSI is showing positive sentiment with minor divergence. A divergence is likely being cancelled if ETHUSD is closing above 2,445 thus further supporting the bullish scenario