Bitcoin and Ethereum have been on a tear these past couple of days mainly due to easing geopolitical risks.
So for the short term, there’s no continuation of the downtrend, with the US and Iran reaching a peace framework agreement and the Strait of Hormuz set to reopen.
Oil prices have plummeted → inflation worries have cooled → expectations for Fed rate cuts are rising, and global risk appetite is warming up, leading to capital flowing back into the stock market and crypto.
Currently, Bitcoin is forming an ascending triangle, with a pullback finding support around 65500, and it’s now gradually climbing. It's already held above 66000, so I suggest going long at 66100, with targets up at 68500 and a stop at 65500.
Ethereum has broken out of the triangular convergence zone, the pullback is in place, and the upward trend is clear. You can enter long at 1765, targeting 1905, with a stop loss at 1720.
So for the short term, there’s no continuation of the downtrend, with the US and Iran reaching a peace framework agreement and the Strait of Hormuz set to reopen.
Oil prices have plummeted → inflation worries have cooled → expectations for Fed rate cuts are rising, and global risk appetite is warming up, leading to capital flowing back into the stock market and crypto.
Currently, Bitcoin is forming an ascending triangle, with a pullback finding support around 65500, and it’s now gradually climbing. It's already held above 66000, so I suggest going long at 66100, with targets up at 68500 and a stop at 65500.
Ethereum has broken out of the triangular convergence zone, the pullback is in place, and the upward trend is clear. You can enter long at 1765, targeting 1905, with a stop loss at 1720.
