UPDATE: Both BTCUSD and ETHUSD are playing out as planned
BTCUSD is approaching the demand zone at $60,477 to $61,505
ETHUSD is also approaching the demand zone too at $1,585 to $1,630
PATIENCE!!!! Wait for price to reach the zone before entering
Full analysis below
#BTCUSD
Daily structure is bearish. But on the 1H, we have a clean demand zone setup for a short-term bounce to $67,026. That is where sellers step back in. Take profits there.
#BTC#CRYPTOSIGNALS#bitcoin#btcusd
8/ BIAS: CAUTIOUSLY BULLISH
Resistance: $1,840 (Weak High)
Current price: $1,732
Demand zone: $1,585 to $1,630 (Strong Low)
Invalidation: Daily close below $1,580
One more dip into demand before expansion.
Not financial advice. Manage your risk.
#ETHUSD#Ethereum#Fundamentals
7/ SENTIMENT: EXTREME FEAR
Fear and Greed Index: 22 (Extreme Fear)
ETH is on track for its first ever 3 red quarters in a row.
Long-term holders are NOT panicking. They are treating this as a buying opportunity.
This is a short-term setup on the 1H. But if $67,026 breaks with momentum, next target is $73,000. Scale out at $67,026, move stop to breakeven, and let the rest run
#BTCUSD#Bitcoin#CryptoAnalysis#Fundamentals
7/ BIAS: CAUTIOUSLY BULLISH
Resistance: $67,026
Current price: $63,377
Demand zone: $60,477 to $61,505
Invalidation: Below $59,500
One more dip into demand before expansion.
Not financial advice. Manage your risk.