Bitcoin gained 0,5% this morning and traded at 11,365$. The news from last week is still showing it effects and leading the rise of BTC. The most important one being Twitter founder’s Square bought 50 million dollars of BTC positively affected BTC prices as Bitcoin gained popularity and trust from the institutional side of investors. Also, BTC futures on CME started the week positively while the new gap in futures passing by 11,200-11,350.

Technically, BTCUSD had a breakout on its downtrend which started on the 17th of August, and the most important gaps 10,800-11,200 levels had a breakout. The flag pattern, which shows the continuity of uptrend, has been completed in hourly and 4-hour charts from last week. Moreover, the new flag pattern has been seen and it increased the chances of a continuing uptrend. In the case of fallback, the new support level is 11,200 while resistance levels are 11,400 and 12,500. 
 

Ethereum is getting behind Bitcoin in terms of returns since DeFi tokens lost %25 over the past two weeks. However, ETH caught BTC with positive returns today. ETH prices located around 374 $ while the gas usage on Ethereum network is also increasing. This situation can give interpretations of ETH can gain profits along with DeFi tokens. Meanwhile, the news about CME, which is the world’s largest futures and options exchange, is working on listing ETH futures is good news for Ethereum. 

ETHUSD shows that the 333-355 $ horizontal band had broken and the new band located at 370-395 levels. The technical Outlook seems positive as the uptrend which started in march is still continuing. The extent of correction can be short unless the possible fallbacks go below 370$.