BTCUSD backfires after the EU vote to block unhosted wallets. It lost more than 5% from a multi-week high at $48234.The major event to be watched today are US Non-Farm payroll. It hits a low of $44244 and is currently trading around $45062.
Bear case-
Levels to watch- $44000. Any daily close below $44780 confirms the bearish trend. 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 -$46000. The breach above confirms minor trend continuation. A jump to the next level of $48300 (200-day MA)/ $52000/$55000 is possible.
Secondary barrier- $60000. A violation above that barrier targets $69000.
CCI (50) holds below the zero line in the 4-hour chart.
It is good to buy on dips around $43500 with SL around $42000 for TP of $52000.
Ethereum (ETHUSD)-
ETHUSD continues to trade weak for the third consecutive day. It hits an intraday low of $3211 and is currently trading around $3282.08.
Bear case-
Levels to watch- $3249. Any violation below will drag the ETH to near-term support of $3200/ $3168/$3000. Major demand zones are $2700-$2800. A breach below targets $2300/$2150.
Bull case-
Primary - Barrier- $3300. 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.
