Bitcoin & Ethereum - Market Thought

Just checked BTC and ETH again and escpecially ETH is playing out like wanted. The strenght over the last days was nothing not to note but we said it in our last report, we need to flip 64,2k on BTC and 3200$ on ETH to remain bullish in the long term. On BTC we are back to exactly 64,2k where we rejected multiple times now throughout the last weeks and on ETH we got the current quartarly VWAP coming in our way. There should come a correction of the past surge in the coming days but how far? Either we are coming down on BTC 62,7k, ~60k or even a new lower low to 55k. It is all not of the table so be cautios and always trade with stop losses if you are trading with leverage.

A possible setup for BTC could be another drop into the 2H FVG and than a push upwards to the current level, this idea would be much stronger if we are getting a candle break over 64,3k else we could be witnessing the same sell off as the last time we tried to break this level and ended as an SFP. Moreover we are being slightly oversold in the RSI and on the edge of our monday high range, the coming days could get interesting

Comment:

With ETH have reached the desired 3200$ level and now we have to flip this level in order to remain bullish. If now we could be revisiting the lows at 2900$. All of that would still be bullish, just a break below would invalidate it. It is monday so we are going to let the ranges develop and than continue to look for possible setups.

Trade active:

BTC got filled here but I personally think this could get risky here and I think this short move upwards could turn again before reaching the target of 69.5k. Therefore please manage this trade according to your own risk and trading style. We got an perfect entry here and now let's see how it works out. I think it would be a great knowledge for you if you are also reading through the market reports of BTC and ETH because the direction is more visible on the higher timeframes.
I am not going to open any trades today but wait for tomorrow. ✅

Comment:

Bitcoin was holding the current monthly very well and is now above the MarchVAL. The last time this was a critical zone and if we stay above it it would be great! The only event i am a little concerned of is the speech of Bowman later today.
Hopefully after this event we are staying above 64.2k and get some closes above it. If we are going to flip 65.6k the party really starts. For now we should remain cautios and do not jump in too early because of FOMO.

We are looking for another retest on some assets and we are going to let you know if we see any possible entry's.