Market Research
Source: Wisebitcoin 2021-05-27
As could be clearly seen on the chart that the pair is firmly trading above a strong support level that is 34500 (supported by a bullish engulfing pattern). Therefore, we will be bullish as long as the pair is trading above it. Our targets: 44087 followed by 47190. On the other hand, if the level of 34500 is broken, the pair might continue going downwards to reach 32000.
| Resistance Levels | Support Levels |
|---|---|
| 50000.00 | 34500.00 |
| 47190.00 | 32000.00 |
| 44087.00 | 29940.00 |
Recommended:
We are bullish as long as the pair is trading above 34500. (Keep an eye on the alternative scenario)
The chart above shows that the pair is trading above a strong support level that is 2300. Therefore, we are bullish as long as the pair is trading above it. Our first target is 3000 followed by 3200. However, if the level of 2300 is broken, the pair might continue going downwards to reach 2078 followed by 1850.
| Resistance Levels | Support Levels |
|---|---|
| 3500.00 | 2300.00 |
| 3200.00 | 2078.00 |
| 3000.00 | 1851.00 |
Recommended:
We are bullish as long as the pair is trading above 2300.
We could clearly detect a bullish engulfing pattern that might push the pair upwards as long as it is trading above 0.7000. Therefore, we will be bullish as long as the pair is trading above 0.8000. Our targets: 1.1000 followed by 1.2000. On the other hand, if the level of 0.8000 is broken, the pair might go downwards to reach 0.7000.
| Resistance Levels | Support Levels |
|---|---|
| 1.2540 | 0.8750 |
| 1.2000 | 0.8000 |
| 1.1000 | 0.7000 |
Recommended:
We are bullish as long as the pair is trading above 0.8750.