BTC and ETH update

8개월 전

Hello all

How are you all?
I am well
Again for some personal life problem i was away from blogging.

But from today i will be active again,so today i have come with BTC and ETH update.
Hope you all will understand.
So,let's start.

BTC

BTC bulls trying hard to change the trend bullish again. The monthly candle close above $37,000 and this is good sign. The MACD also turning positive on daily chart. BTC need to hold above $35,500 and we see another retest of $38,000. There is heavy resistance area till $42,000 and a breakout with good volume of $42,000 will turn the market bullish. The support zone for now is $35,000-$35,500 and major support zones are $30,000 and $32,500-$33,000. The on-chain analysis shows accumulation is going on. Let's see what this week brings.

IMG_20210601_180139.jpg

This is the yesterday long and short positions. Long ratio was always high but now it is touching 98%. The market is still one sided. Let's see how market move and will traders change their positions to short in coming weeks.

ETH

ETH Analysis

ETH is bouncing from the local support of $2400-$2480. If ETH breaks this level the next support zone is $2200-$2230 area. The last major support zone is $1850-$1920. The major resistance for ETH is $2880-$2910 area and ETH needs to break and hold above this level to turn bullish again. If you are looking for a new position then place your orders in the $2440-$2480 range (don't go all in). Also, place some orders at the lower support zone levels for a sudden market crash.

IMG_20210601_180129.jpg

ETH bounced from the lower support of $2200 zone. Hope you guys added some ETH near $2200 support zone and $2400 support zone. ETH now trading above $2600 and we expecting a retest of the $2900 resistance area. If ETH able to break and hold above the major resistance level we will see a rally towards $3500.

Thanks all for reading my blog.

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In fact, the information you have given about the cryptomarket is really very important. thanks for share your valuable information.