FxWirePro- Bull and bear case
BTCUSD pared some of its gains made the previous week yesterday. It regained back above $30000 indicates that pair has formed temporary bottom around $25401.The risk aversion due to aggressive rate hikes by Fed prevents BTC from further upside. It hits an intraday high of $30783 and is currently trading around $30603.
Levels to watch- $28000. Any violation below confirms the bearish trend, a dip to $24000/$20000 is possible.
Primary supply zone -$31400 (55-4 HEMA). The breach above confirms bullish confirmation. A jump to the next level of $32650/$34500/$35816 is possible.
Secondary barrier- $37000. A violation above that barrier targets $40000/$43000.
CCI (50) holds above the zero line in the 4-hour chart.
It is good to buy on dips around $30000 with SL around $28000 for TP of $40000.
ETHUSD recovered above $2000 following in the footsteps of BTC. It hits a high of $2095.56 at the time of writing and is currently trading around $2083.50.
Levels to watch- $1900. Any close below shows that the pair is in a downtrend. A dip to $1700/$1600 (200-WEMA is possible). Major demand zones are $1600. A breach below targets $1168.
Primary - Barrier- $2170. Any breach above confirms an intraday bullishness. A jump to $2300/$2500 is possible.
Secondary barrier- $2700. A breach above that barrier targets $2940/$300.
It is good to buy on dips around $1948-50 with SL around $1800 for TP of $2500.