Currently, $ETH is hovering around a strong rejection zone a | theSignalyst na Binance Square

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Currently, $ETH is hovering around a strong rejection zone as it is the intersection of the $2000 round number and support, and the lower red trendline.
🏹 The highlighted red circle is a strong rejecting area to expect the bulls to kick in from.

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📈 BTC has been stuck in a descending channel, ranging between 50k and 70k. As it approaches the 50k zone, we will be looking for medium-term long positions. 🏹 For a long-term trade targeting the 80k resistance, a break above the upper red trendline is required.

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$BTC Break above $62,000 for a bullish continuation towards $68,000. Break below the lower trendline for a deeper bearish correction towards $52,000.

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🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the $2500 and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #ETH approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

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Critical area for $BTC at the moment. Break above $62,000 for a bullish continuation towards $68,000. Break below $58,000 for a deeper bearish correction towards $52,000.

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As long as the bulls hold, a movement towards the $3000 - $3100 resistance zone would be expected. 📉 In parallel, if the last 4H low at $2600 is broken downward, a bearish movement towards the $2100 would be possible where we will be looking for new short-term longs.

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