$BTC Entry 26,200 Take Profit 25,945 25,780 Stop Loss 2 | CRYPH on Binance Square

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Bearish

$BTC
Entry
26,200
Take Profit
25,945
25,780
Stop Loss
26,480
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Trading Tip Of The Day #2 #cryphthoughts #cryphcares

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Trading Tip Of The Day #1 #cryphthoughts #cryphcares

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#BCH has shown a consistent bullish trend within a rising channel. Currently in a correction phase, it's nearing the lower channel boundary and retesting a significant demand zone marked in red. This highlighted area presents a compelling opportunity for potential buy setups, as it intersects with both the red demand zone and lower trendline, serving as a robust non-horizontal support.

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#BTC After bouncing off the 25,000 support rejection, BTC surged by 50%, confirming the upward trend. A newly identified rising channel in black suggests potential bullish momentum. As BTC nears the upper boundary of the channel, converging with the 40,000 resistance, a pivotal factor for sustained bullish control is a weekly candle close above 40,000. This could trigger a parabolic move towards the 50,000 resistance. However, given BTC's proximity to a significant resistance zone, a bearish intervention remains possible. This could revert it to a range between 25,000 and 30,000, especially if lower timeframes signal a bearish reversal.

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After bouncing off the lower wedge pattern boundary, ETH shows bullish signs. Yet, it's nearing a strong resistance zone 2150-2300, coinciding with the upper trendline, acting as an overbought area. For a sustained bullish outlook, a weekly close above 2300 is crucial. This could pave the way for a move towards the next resistance at around 3000. Conversely, staying below 2300 leaves room for bears to trigger a correction, possibly confirmed on lower timeframes. Keep a close eye on price action at this pivotal level for meaningful market insights.

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