BTCUSD consolidates after hitting a low of $44234 Friday.BTC touched three-month amid the Russia-Ukraine war, and Fed policies. The decline in the US unemployment rate has increased the chance of the Fed's aggressive rate putting pressure on Bitcoin at a higher level. It hits an intraday low of $45564 and is currently trading around $45733.
Bear case-
Levels to watch- $44830. Any daily close below $44830 (200-day EMA) 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 -$48300 (200-day MA). 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 above the zero line in the daily chart.
It is good to buy on dips around $43500 with SL around $42000 for TP of $52000.
Ethereum (ETHUSD)-
ETHUSD declined after a minor jump above $3500. It hits an intraday low of $3416 and is currently trading around $3441.06.
Bear case-
Levels to watch- $3400. Any violation below will drag the ETH to near-term support of $3300/ $3240/$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 $3400 with SL around $3275 for TP of $4000.
