Bitcoin (BTC/USD) Analysis
Key Highlights
BTC’s price is in the consolidation phase between $45,850 and $34,324 with a bullish bias. The pair is trading within a symmetric triangle.
Technical Analysis
Intraday trend – Bullish
On the daily chart, the pair is trading above Tenken-sen ($40,079), Kijun-sen (39,828), and below Ichimoku Kumo cloud ($41,030). It hits a high of $40,957 at the time of writing and is currently trading around $40,769.
Major support is seen at $39,485. A drop below this level would confirm intraday bearishness. In that case, a dip till $37,000 (Mar 7th low)/$34,000/$32,950 (Jan 24th low)/$30,000/$28,600 is likely.
The immediate resistance is around $41,700, and any breach above that level would confirm further bullishness. A jump to $42,600 (Mar 9th high)/$45,356 (200-day EMA)/$50,000 is possible.
TradingView
RSI – bullish
A possible strategy is to buy on dips around $40,000 with SL around $37,000 for TP of $50,000.
ETH/USD Daily Outlook
Key Highlights
ETH/USD continues to trade higher for the fourth consecutive day. It hits a high of $2,839 and is currently trading around $2,810.
On the daily chart, the pair is trading above Tenken-sen ($2,666), Kijun-sen ($2,672), and below Ichimoku Kumo cloud ($2843) confirming the bullish trend.
Major support is seen at $2,660, any violation below this level confirms minor weakness. A dip till $2,500/$2,445/$2,300 (Feb 24th low)/$2,150 is possible.
Intraday trend reversal may happen if Ethereum closes above $2,850 (55-day EMA), a jump to $3,000/$3,300 is possible; a bullish continuation only above $3,525.
RSI – Neutral
A possible strategy is to buy on dips around $2,750-60 with SL around $2,600 for TP of $3,500.
XRP/USD Outlook
Intraday trend – Bullish
Key support – $0.70, $0.50
Key Resistance – $0.86 (Mar 12th 2022)
XRP’S price holds above short-term (55-day EMA) and long-term (200-day EMA) on the 4-hour chart. Any breach above $0.860 confirms bullish continuation.
It is currently trading around $0.78550, short-term trend reversal only if it breaches $1.02 (23rd Dec high).
A possible strategy is to buy above $0.860 with SL around $0.80 for a TP of $1.02.
BNB/USD Outlook
Intraday trend – Bullish
Key support – $350, $330
Key Resistance – $425
BNB/USD’s price holds above short-term (55-day EMA) and long-term (200-day EMA) on the 4-hour chart. Anything above $405 would confirm further bullishness – it is currently trading around $387.50. Short-term trend reversal only if it breaks $425.
A possible strategy is to buy above $360 with SL around $330 for a TP of $425/$450.
Bitcoin Support /Resistance
Resistance
R1 – $42,600
R2 – $43,500
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
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