Market Research
Source: Wisebitcoin 2021-07-02
UPDATE of today: On an intraday basis, the pair is trading below a strong resistance level that is .36400, therefore, we are bearish as long as the pair is trading below it. Our targets: 33000 followed by 32000.
Main Scenario: The chart above shows that the pair is heading towards the level of 36000. In the long run, we think that we could be bullish as long as the pair is trading above 28200. Our targets: 36000 followed by 38000. On the other hand, if the level of 28200 is broken, the pair might continue going downwards to reach 27356.
| Resistance Levels | Support Levels |
|---|---|
| 40000.00 | 32000.00 |
| 38000.00 | 29000.00 |
| 36000.00 | 28200.00 |
Recommended:
We are bullish as long as the pair is trading above 28200.
UPDATE of today: We remain bearish – The pair has formed a bearish engulfing pattern below a strong resistance level (2290) Therefore, we are bearish as long as the pair is trading below it. Our targets: 2000 followed by 1900.
Main Scenario: As could be clearly seen on the chart above that the pair is trading above a strong support level at 1700. Therefore, we are bullish as long as the pair is trading above it. Our targets: 2200 followed by 2400. On the other hand, if the level of 1700 is broken, the pair might continue going downwards to reach 1550.
| Resistance Levels | Support Levels |
|---|---|
| 2650.00 | 1700.00 |
| 2400.00 | 1600.00 |
| 2270.00 | 1543.00 |
Recommended:
We are bullish as long as the pair is trading above 1700.
UPDATE of today: On an intraday basis, we are bearish – The pair is trading below a strong resistance of 0.7350. Therefore, we are bearish as long as the pair is trading below it. Targets: 0.6300 followed by 0.6100.
Main Scenario: As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.7000. Therefore, we will be bearish as long as the pair is trading below it. Our targets: 0.6000 followed by 0.5500. On the other hand, if the level of 0.7000 is broken, the pair might continue going upwards to reach 0.7900 followed by 0.8250.
| Resistance Levels | Support Levels |
|---|---|
| 0.8600 | 0.6000 |
| 0.7900 | 0.5500 |
| 0.7000 | 0.5000 |
Recommended:
We are bearish as long as the pair is trading below 0.7000.