Chart Art: Potential Bullish Breakouts on EUR/CAD and Bitcoin

Are we about to see stronger rallies for EUR/CAD and bitcoin?

Or are they in for another dip to nearby support levels?

Check out these upside barriers they’re currently testing!

EUR/CAD: 1-hour

EUR/CAD 1-hour Forex Chart

This pair has formed higher lows and slightly higher highs, creating a rising wedge pattern on its hourly chart.

Price is currently testing the top of the wedge around the 1.3600 major psychological mark. Can it break higher soon?

Technical indicators aren’t looking very sure, as the 100 SMA is struggling to maintain its lead over the 200 SMA while Stochastic seems to be hesitating on its move up.

If the oscillator turns south, EUR/CAD could follow suit as bearish pressure picks up. This might lead to a dip back to the wedge bottom around the 1.3500 handle.

On the other hand, a break above the resistance could set off a climb that’s at least the same height as the wedge. That’d be roughly 300 pips yo!

Bitcoin (BTC/USD): 4-hour

Bitcoin (BTC/USD) 4-hour Chart

Here’s one for the crypto HODL-ers out there!

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Bitcoin got a fresh bullish boost recently, as price popped sharply back up to the top of its range visible on the 4-hour time frame.

Can it sustain the rally from here?

If so, BTC/USD might be in for a climb that’s the same size as the rectangle pattern. However, if the ceiling keeps holding, another dip to the support area of around $18,600 might follow.

Stochastic is pointing up to show that buyers have the upper hand, but the oscillator is closing in on the overbought region to signal exhaustion soon.

Meanwhile, the 100 SMA is still below the 200 SMA hinting that resistance is more likely to hold than to break. Then again, the moving averages might simply be oscillating to reflect sideways price action.

In any case, better stay on the lookout for either reversal or breakout candlesticks right here!