BTCUSD
Bitcoin, for the first time in history, is trading above $20,000. Additionally, the flagship cryptocurrency made a remarkable upswing to new all-time highs above $22,000 on Thursday during the Asian session. The bellwether cryptocurrency rallied by nearly 3,050% from the lows traded in 2017 to the former all-time high at around $19,899. The current Bull Run has been likened to the 2017 bullish cycle, which means that Bitcoin is still in the rally's initial stages.On the downside, initial support has been established between $20,358 and $20,678.
ETHUSD
Ethereum is currently trading at $630 after a massive price explosion following Bitcoin’s new all-time high above $20,000. At the same time, CME announced the launch of Ethereum's futures contracts for February 8, 2021. Not only Bitcoin has breached $20,000 for the first time ever, but the announcement from CME listing Ethereum, its second cryptocurrency supported, has also proven to be a major bullish factor. On the 12-hour chart, it seems that Ethereum price broke out of an ascending triangle pattern and targets $743 in the long-term. The next resistance level is $635.7, the 2020-high. A break out above this point would most likely push ETH towards that $743 price target.
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