Market Analysis: Bitcoin & Ethereum Update
Bitcoin (BTC) Analysis:
Current Price: ~$95,666
Resistance Hit: $97,895 (overperformed our $97,300 target)
Current Support Zones:
Psychological: $95,000
Technical Mini Support: $92,000
Major Bullish Support: $90,000
Structure: Rising Channel
Probability: 70% chance to break down, 30% chance to break up
Trade Setup:
Entry Zone: $92,000–$95,000
Target 1: $97,300
Target 2 (Breakout): $100,000
Stop Loss: $89,500 (close below this invalidates the bullish structure)
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Ethereum (ETH) Analysis:
Current Price: ~$1,900
Performance (7D): +1.98% (outperforming BTC)
Structure: Rising Channel inside Cup & Handle Pattern
If breakout occurs, we expect a bullish continuation
Key Levels:
Support: $1,750
Target: $2,000
Confirmation: Needs to hold above $1,750 on 2D candles
Trade Setup:
Entry Zone: $1,770–$1,800
Target: $2,000
Stop Loss: $1,730 (2-day close below this level invalidates the setup)
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Conclusion:
Both BTC and ETH are in rising channels. Short-term pullbacks toward key support levels are expected before any major move. Bullish bias remains unless support is lost.
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