Bitcoin (BTCUSD)-
BTCUSD trades lower after hawkish comets from Fed members. Markets eye US Fed meeting minutes for further direction. Whale-sized purchases by Micro strategy and Luna foundation are bullish signals for Bitcoin. It hits an intraday low of $44418 and is currently trading around $45319.
Bear case-
Levels to watch- $44854 (200- day EMA). Any daily close below that level confirms intraday bearishness. A dip to $43500/$42500/$41700/$41000.Significant demand zones are around $37000-$34000. A breach below that level will pull the BTC to $30000/$24900.
Bull case-
Primary supply zone -$48291 (200-day MA). The breach above confirms minor trend continuation. A jump to the next level of $52000/$55000 is possible.
Secondary barrier- $60000. A violation above that barrier targets $69000.
CCI (50) holds above the zero line in the daily chart.
It is good to buy on dips around $43500 with SL around $41700 for TP of $52000.
Ethereum (ETHUSD)-
ETHUSD declined after a minor jump above 200- day MA. It hits an intraday low of $3267 and is currently trading around $3335.
Bear case-
Levels to watch- $3200. Any violation below will drag the ETH to near-term support of $3168/$3000. Major demand zones are $2700-$2800. A breach below targets $2300/$2150.
Bull case-
Primary - Barrier- $3600. The jump above will mark the beginning of a minor bullish trend. Surge past will push the prices higher to $3500/$4000.
Secondary barrier- $4000. Breach that barrier targets $4500/$5000.
It is good to buy on dips for $3200 with SL around $3000 for TP of $4000.
