FxWirePor- Bull and bear case

BTCUSD formed a triple bottom around $37000 and showed a minor pullback.  Markets are highly volatile ahead of Fed monetary policy next week. It hits an intraday high of $39923 and is currently trading around $38995.

 Bear case-

 Levels to watch- $37000. Any violation below will drag the pair to the next level to $34000/$30000.Significant demand zones are around $30000. A breach below that level will pull the BTC to $24900.

Bull case-

Primary supply zone -$40000.  The breach above confirms minor bullishness. A jump to the next level of $408008/$41700/$43000 is possible.           

 Secondary barrier- $43000. A violation above that barrier targets $46000/$48300.

 CCI (50) holds below the zero line in the 4-hour chart.

It is good to buy on dips around $37000 with SL around $34000 for TP of $50000.

Ethereum (ETHUSD)-

ETHUSD trades lower following the footsteps of Bitcoin. It hits an intraday low of $2831 and is currently trading around $2846.

 Bear case-

 Levels to watch- $2750. Any violation below will drag the ETH to near-term support of $2600/$2490. Major demand zones are $2300-$2150. A breach below targets $1700.

 Bull case-

 Primary - Barrier- $3045. Any breach above confirms an intraday bullishness. A jump to $3180/$3275.

Secondary barrier- $3600. A breach above that barrier targets $4000/$4500.

It is good to sell on rallies around $3080-90 with SL around $3200 for TP of $2490.