FxWirePro- Bull and bear case

Bitcoin (BTCUSD)-

BTCUSD holds above $42000 on high Bitcoin network activity. The number of new BTC addresses increasing continuously since Feb 21st. It hits an intraday high of $43337 and is currently trading around $42937.

 Bear case-

 Levels to watch- $40000. Any convincing break below will drag the Bitcoin to the next level of $37000/$34000/$30000. Significant demand zones are around  $28000-$30000. A breach below that level will pull the BTC to $24900.

Bull case-

Primary supply zone -$43500.  The breach above confirms minor bullishness. A jump to the next level of $46000/$50000 is possible.            

 Secondary barrier- $50000. A violation above that barrier targets $52000/$60000/$69000.

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

It is good to buy on dips around $41700-750 with SL around $40000 for TP of $52000.

Ethereum (ETHUSD)-

ETHUSD gained above $3000 and hits a high of $3053 at the time of writing. It is currently trading around $3008.

 Bear case-

Levels to watch- $2800. Any violation below will drag the ETH to near-term support of $2740/$2670/$2600/$2445/$2300/$2150.  Major demand zones are $1700. A breach below $1700 targets $1500/$1288.

 Bull case-

 Primary - Barrier- $3030. The jump above will mark the beginning of an intraday bullish trend. Surge past will push the prices higher till  $3200/$3553 (200-day MA).

Secondary barrier- $4000. Breach that barrier targets $4150/$4500/$4784.

It is good to buy on dips $2975-80 with SL around $2800 for TP of $3550.