 - EconoTimes)
Bitcoin (BTCUSD)-
BTCUSD is trading in a narrow range between $52000 and $45666 for the past five days. The pair is holding below 200- day MA for the second consecutive day. It hits an intraday low of $45941 and is currently trading around $46575.
Bear case-
Levels to watch- $45000. Any convincing break below will drag the Bitcoin to the next level of $41967 (Dec 4th low)/$40000. Major demand zones are $39759, $37600. A breach below $37000 will pull the BTC to 2021 low $28600.
Bull case-
Primary - Barrier-$50000. Any daily close above confirms short-term bullishness. A jump to the next level is $52000/$54500/$59000.
Secondary barrier- $60000. A jump above that barrier targets $69000 (an all-time high).
CCI (50) and Woodies CCI- Below zero line in the 4-hour chart.
It is good to sell on rallies around $47500-800 with SL around $50000 for TP of $41980.
Ethereum (ETHUSD)-
ETHUSD declined after a minor jump above 55-4H MA. It is currently trading around $3768.
Bear case-
Levels to watch- $3585. Any close below will drag the ETH to near-term support of $3650/$3470 (Dec 4th low)/$3303 (200- day MA). Major demand zones are $3200. Breach below $3200 targets $3000/ $2650 (Sep 2021 low).
Bull case-
Primary - Barrier- $3900. The jump above will mark the beginning of an intraday bullish trend. Surge past will push the prices higher till $4000/$4150/$4500/$4650/$4784.
Secondary barrier- $4870. Breach that barrier targets $5000.
It is good to buy above $4025 with SL around $3800 for TP of $5000.
