Bitcoin (BTC / USD) analysis
Main highlights
BTC prices are in the integration phase between $ 45,850 and $ 34,324, with a bullish bias. Pairs are traded within a symmetric triangle.
Technical analysis
Daytime trends- strong
On the daily chart, the pair is trading under the Tenken Line ($ 40,079), Kishun Line (39,828) and Ichimoku Cloud ($ 41,030). It had a high of $ 40,957 at the time of writing and is currently trading at around $ 40,769.
The main support is $ 39,485. Below this level, daytime bearishness is confirmed. In that case, it could drop to $ 37,000 (March 7th low) / $ 34,000 / $ 32,950 (January 24th low) / $ 30,000 / $ 28,600.
Imminent resistance is around $ 41,700, and violations above that level confirm further bullishness. You can jump to $ 42,600 (March 9th high) / $ 45,356 (200th EMA) / $ 50,000.
TradingView
RSI- strong
A possible strategy is to buy a SL for about $ 37,000 and a dip for about $ 40,000 if the TP is $ 50,000.
Daily outlook for ETH / USD
Main highlights
ETH / USD has been trading at high prices for 4 consecutive days. It peaked at $ 2,839 and is currently trading at around $ 2,810.
On the daily chart, the pair is trading under Tenkensen ($ 2,666), Kijunsen ($ 2,672) and Ichimoku Cloud ($ 2843), confirming a bullish trend.
Major support is seen at $ 2,660, and violations below this level identify minor weaknesses. It could drop to $ 2,500 / $ 2,445 / $ 2,300 (February 24 lows) / $ 2,150.
If Ethereum closes above $ 2,850 (55-day EMA), a intraday trend reversal can occur, jumping to $ 3,000 / 3,300. Continued bullish over $ 3,525.
RSI- neutral
A possible strategy is to buy a SL for about $ 2,600 for a $ 3,500 TP and a dip of about $ 2,750-60.
XRP / USD outlook
Daytime trends- strong
Key support-$ 0.70, $ 0.50
Key Resistance-$ 0.86 (March 12, 2022)
The price of XRP is higher than the short-term (55-day EMA) and long-term (200-day EMA) on the 4-hour chart. Violations above $ 0.860 confirm the continuation of bullishness.
Currently trading at around $ 0.78550, a short-term trend reversal will only occur if you violate $ 1.02 (December 23 highs).
A possible strategy is to buy more than $ 0.860 with SL around $ 0.80 if TP is $ 1.02.
BNB / USD outlook
Daytime trends- strong
Key Support-$ 350, $ 330
Key Resistance-$ 425
BNB / USD prices are above the short-term (55-day EMA) and long-term (200-day EMA) on the 4-hour chart. Those above $ 405 confirm further bullish-it is currently trading at around $ 387.50. Short-term trend reversal only if above $ 425.
A possible strategy is to buy over $ 360, SL is about $ 330, and TP is $ 425/450.
Bitcoin support / resistance
resistance
R1-42,600 dollars
R2-43,500 dollars
R3- $ 46,000
support
S1- $ 37,000
S2- $ 34,000
S3- $ 30,000
Ethereum support / resistance
resistance
R1-$ 2,850
R2- $ 3,050
R3- $ 3,300
support
S1- $ 2,600
S2- $ 2,445
S3- $ 2,300
See more details on the Newsweek Cryptocurrency Index:
