Bitcoin crashes. Positive sentiment towards AUD and NZD

Bitcoin tumbles as never before. Is that a burst of the bubble or just a normal correction? Since the top around 19k, BTC broke few horizontal supports and most recently, the mid-term up trendline. That can be a game changer here but remember that in history, every dip was bought and ended with creating new ATH.

Yesterday, AUDUSD broke the upper line of the pennant formation triggering a strong buy signal. The potential target for this movement is on 0.777 (lows from the beginning of October).

NZDUSD is also in a positive territory. Here, instead of the pennant, we got a flag, which resulted in a bullish breakout. The potential target for this movement is on 0.706 so we still have some space and time to get there.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis