Bitcoin, Ethereum, Dogecoin Retrace As JPMorgan Considers Payment Token: A Look At The Cryptos Into The Weekend
Portfolio Pulse from Melanie Schaffer
Bitcoin, Ethereum, and Dogecoin are trading lower, with Bitcoin sliding about 2% during Friday's 24-hour trading session. This comes after reports that JPMorgan is exploring blockchain-based deposit tokens for cross-border transactions. Despite the bearish leanings, Bitcoin has developed a bullish divergence, indicating a potential upward move. Ethereum and Dogecoin are trading in symmetrical triangle patterns, indicating a larger move is likely before September 13 and 12, respectively.

September 08, 2023 | 8:52 pm
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NEUTRAL IMPACT
Bitcoin is trading lower but has developed a bullish divergence, indicating a potential upward move.
Bitcoin is trading lower, but the development of a bullish divergence suggests that an upward move could be on the horizon. However, the timing of this potential reversal is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Dogecoin is trading lower in a symmetrical triangle pattern, indicating a larger move is likely before September 12.
Dogecoin is trading lower and is in a symmetrical triangle pattern, suggesting a larger move is likely before September 12. The direction of this move is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Ethereum is trading lower in a symmetrical triangle pattern, indicating a larger move is likely before September 13.
Ethereum is trading lower and is in a symmetrical triangle pattern, suggesting a larger move is likely before September 13. The direction of this move is uncertain.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100