Natural gas has long been a popular commodity among traders due to its widespread use in heating and electricity generation. However, in recent years, another asset has captured the attention of traders: cryptocurrency.

With its decentralised nature and potential for high returns, cryptocurrency has become a hot topic in trading circles. In this article, we will explore why traders are now looking at both natural gas and cryptocurrency, with a particular focus on the growing influence of cryptocurrency in the trading world.

The BTCUSD (Bitcoin) Performance

BTCUSD started the year very bullish. The market created a low of around $15455.00 and aggressively rallied to the upside. This price action created an ascending structure and confirmed a rally within a bear market. At the moment Bitcoin is trading at the resistance zone around $29285.00 as well as at the top of the channel where profit-taking could happen.

Therefore traders are waiting for a rejection to confirm a drop back to $24285.00 or a break and close above to continue the rally.

The ETHUSD (Ethereum) Performance

Ethereum is trading within an ascending structure.

ETH created a 2nd structure low and pushed up to break above the resistance zone around $1682.00. This price action confirmed the completion of the inverse head and shoulders pattern and provides confluence to the upside. As such, traders anticipate the market to rally up to the top of the ascending structure to complete the bullish setup.

Read More: GOLD Heading Back To $2000 And Profit Taking

The NATURAL GAS (NGAS) Performance

Natural Gas is back to $2.10.

NGAS is trading within a descending channel as well as the previous structure low around $2.10. This zone is where the market previously rejected and aggressively rallied to the upside and broke above previous resistance zones. This price action indicated possible bullish momentum and as such, traders anticipate a repeat and are keeping a close eye for a breakout to the upside before looking for trading opportunities.

Final thoughts on today's analysis

In conclusion, it's clear that the world of trading is evolving and expanding to include new assets beyond traditional commodities like natural gas. Cryptocurrency, with its unique properties and potential for high returns, is attracting more and more traders each day. As the crypto market continues to mature and become more widely adopted, we can expect to see even more interest from traders in this exciting asset class.

However, natural gas remains a vital commodity and will continue to be an important factor in global energy markets. Traders who keep an eye on both natural gas and cryptocurrency will be well-positioned to navigate the ever-changing landscape of the trading world. Looking for more insights? Subscribe to our YouTube.