Bitcoin (BTCUSD)-
BTCUSD gained above $44000 as demand for riskier assets returned. The pair hit a low of $41575 after Russia and Ukraine tension escalated. It hits an intraday high of $44785 and is currently trading around $44214.
Bear case-
Levels to watch- $41800 (200-4H EMA). Any convincing break below will drag the Bitcoin to the next level of $40220/$38000/$36250/$30000. Significant demand zones are $28000. A breach below that level will pull the BTC to $24900.
Bull case-
Primary – supply zone -$46000. The breach above confirms minor bullishness. A jump to the next level $49260 (200-day MA)/$50000/$52200. Minor resistances are $43200/$45000.
Secondary barrier- $55000 (61.8% Fib). Any violation above that barrier targets $60000/$69000 (an all-time high).
CCI (50) and Woodies CCI above zero line in the 4-hour chart.
It is good to buy on dips around $42800-$43000 with SL around $40000 for TP of $53000.
Ethereum (ETHUSD)-
ETHUSD regained above $3000 after a minor decline to $2830. It hits a high of $3199 yesterday and is currently trading around $3141.
Bear case-
Levels to watch- $2800. Any close below will drag the ETH to near-term support of $2590/$2400/$2150. Major demand zones are $1700. A breach below $1700 targets $1500/$1288.
Bull case-
Primary - Barrier- $3350 (200- day EMA). The jump above will mark the beginning of an intraday bullish trend. Surge past will push the prices higher till $3585 (200-day MA)/$3670/$3800/$4000.
Secondary barrier- $4000. Breach that barrier targets $4150/$4500/$4784.
It is good to buy on dips around $3000 with SL around $2800 for TP of $4300.
