BTCUSD pared some of its gains made yesterday after hawkish Fed meeting minutes. The meeting confirms another two 50 bpbs rate hikes in June and July meetings. It hits an intraday high of $28870 and is currently trading around $29170.
Bear case-
Levels to watch- $28000. Any violation below confirms the bearish trend, a dip to $24000/$20000 is possible.
Bull case-
Primary supply zone -$31500. The breach above confirms bullish confirmation. A jump to the next level of $32650/$34500/$35816 is possible.
Secondary barrier- $37000. A violation above that barrier targets $40000/$43000.
CCI (50) -neutral in the 4-hour chart.
It is good to sell on rallies around $30980-31000 with SL around $33000 for TP of $25000.
Ethereum (ETHUSD)-
ETHUSD holds below $2000 for the third consecutive day following the footsteps of Bitcoin. It hits a low of $1813 at the time of writing and is currently trading around $1837.
Bear case-
Levels to watch- $1700. Any close below shows that the pair is in a downtrend. A dip to $1600 (200-WEMA is possible). Major demand zones are $1600. A breach below targets $1168.
Bull case-
Primary - Barrier- $2000. Any breach above confirms an intraday bullishness. A jump to $2170/$2300/$2500 is possible.
Secondary barrier- $2700. A breach above that barrier targets $2940/$300.
It is good to sell on rallies around $2000 with SL around $2170 for TP of $1200.
