FxWirePro- Bull and bear case

BTCUSD regained above $40000 as the Bitcoin hash rate hits an all-time high of 271.19 exahash per second (EH/S). It hits an intraday high of $40799 and is currently trading around $40547.

 Bear case-

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

Bull case-

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

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

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

It is good to buy on dips around $40000 with SL around $37000 for TP of $50000.

Ethereum (ETHUSD)-

ETHUSD holds above $3000 after hitting a low of $2798 yesterday. It hits an intraday high of $3038 and is currently trading around $3007.

 Bear case-

 Levels to watch- $2940. Any violation below will drag the ETH to near-term support of $2880/$2800/$2600. 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. Breach that barrier targets $4000/$4500.

It is good to buy on dips around $2940 with SL around $2800 for TP of $3500.