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March 21, 2022 at 4:00 AM
by NewWave Traders
weekly btc.png

Bitcoin and Ethereum are at the point where we findout if this latest move up is just a bull trap or if we are going to reach new all-time highs. Check out this week's video for the full technical analysis and how you can maximize your moves in the market:



We are seeing consolidation between the 36K and 44K level which will lead to a price break. However, it is unclear at this moment whether or not this is going to be an accumulation or redistribution pattern which will lead to all-time highs or more lows, respectively. It is certainly possible to see a move up in the short-term; however, the bulls will need to push past the 52K highs to regain control of the market. If there is a striong rejection between 48K and 52K, we should not be surprised to see an impulsive move down. Check out this week's video above for all the invalidation levels and key targets.


Ethere has a similar pattern right now, but it has a little bit of a cleaner count that may be a bit more bullish. The key levels for ETH are 3600 to 3800 as major resistance. If ETH can push through that, the bulls will take control, similarly to BTC's 52K level. If, however, ETH gets rejected at that area of resistance, expect sigifincant moves to the downside. Again, for all of the key targets and invalidations, check out this week's video