Hi all.
This week, the economic calendar expects literally a couple of reports from the US that could affect market activity, but I think that we will not see any sharp movements on the senior timeframes, at least from this news.
The week on bitcoin closed bullishly. The local level of $61500-62000 from the previous review was broken, as expected with a high probability. At the moment, on H1 we are observing consolidation with two resistance spikes of $64500 and now another approach to the local support of $63600
In the near future, I expect to see a breakout of this support and a retest of the $62K level, which was broken last week and now coincides with the 200DMA, starting from 1H and up to 8H, which strengthens this buyer zone as support.
In this zone, the imbalance is just covered for 1 week, after which I expect continued growth.
On Ethereum, as I expected in the last review, the resistance level of $2700 was broken and in the near future I also expect its retest, where on 1H this level intersects with 200DMA, from where I expect to see a reaction from buyers.
There is a high probability that the ETH/BTC pair will test the $0.040-0.042 zone in the near future with another good buyback and buyer reaction.
