Today I will go through BTCUSD daily and ETHUSD 4H charts which have shown some large breakouts, and will now perhaps both enter a bearish correction. There is, however, hope as BTC might turn bullish in the long run…

BTCUSD

Firstly, we have the BTCUSD daily chart showing that the pair broke the large descending triangle and spiked into a resistance level at [1]. I foresee a pullback to retest the triangle of the broken descending trendline at [2], before going off and flying towards the 8400 mark at [3] in the long run.

ETHUSD

Next, we have the ETHUSD 4H chart showing that the pair also made a nice bullish move, it retested the ascending trendline at [2] which was broken to the downside last week at [1]. If the price cannot break back above this trendline, then I expect the last bearish leg to head to 170 at [3], which is confluent with a great supportive zone.

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