BLOCVERSE MARKET ANALYSIS- BTC/USD & ETH/USD (4 HOUR & TIME FRAMES)

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Market Analysis

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BTC/USD

BTC remains bullish as it broke the $28.9k major resistance zone. Still heading towards the $33k major resistance that can be seen daily. This move was discussed in last week’s article. See the analysis below:

Chart showing performance of BTC/USD (on Daily Time Frame as of 3rd of April, 2023). Source: Trading View

The break of the $28.9k resistance flipped it into a support zone. A retest of this support zone should be considered when taking any entry. BTC/USD price is bullish. 

The current analysis is below:

Chart showing performance of BTC/USD (on 4 hour Time Frame as of 10th of April, 2023). Source: Trading View

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ETH/USD:

In the 4-hour timeframe, the price of ETH can be seen to move bullishly heading towards the Major resistance. 

However, there was a failure to mitigate the last 4-hour demand zone before causing another BOS(Break Of Structure). 

Bulls are currently in control of the market. The price is bullish. 

Analysis below:

Chart showing performance of ETH/USD (on 4-hour Time Frame). Source: Trading View

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Learn and stay accustomed to these basic trading abbreviations and terminologies here

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⚠️This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding.

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