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BTC/USD:
In the 4-hour time frame, BTC found itself consolidating within the $28,000 to $26,500 price range throughout the past week.
During this consolidation, a bullish trendline created in the previous week(7th to 20th of March) was broken bearishly. However, a break above the 28600 prices would invalidate this bearish indication, and pthe rice will remain bullish.
As seen in the 4-hour time frame, the price could be more efficient due to the imbalance that needs to be filled below.
This will only happen if the consolidating price struggle ends and the bears take control of the market.
Then we should see a dump to the 19500 major support if the 24k minor support doesn’t hold.
Traders should be taking bearish positions already due to the presence of weak lows and that bearish break of the bullish trendline.
Chart showing performance of BTC/USD(on 4hour Time Frame). Source: Trading View
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ETH/USD:
Ethereum price remains bullish on the 4- hour time frame.
A BOS indicates trend continuation and demand zone(4hr) that needs to be mitigated for a bounce up towards the minor resistance area.
A break of this demand zone would send ETH price looking towards filling the imbalance in the 1500 area towards the minor support zone. But for now, ETH remains bullish.
Chart showing performance of ETH/USD(on a 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.