The confluence of two powerful resistance might be in play. Previous drop to around 31xx created an immature bounce and it is a high possibility to see that BTCUSD drop below those levels. If the 2800-3000 support doesn't hold, things will get crazier and uglier for longs.
Simplicity is the key word. Good luck!
Seems BTCUSD pair is making a HH and HL and moving in a new up channel. The small H&S in 1H chart reached its target nicely and touched the up channels lower border. Let's see if this channel will hold and BTCUSD will reach the previous double bottom's target.
ETHUSD nicely bounced from the green TL which it used to bounce lots of times. Now it may create nice swing trading opportunities if it can break the red and orange downward TLs. First level to watch is 300 resistance mark after breaking the downward TLs.
I like to keep it simple. It is easy to make the chart complicated. Some thinks it is as sophisticated as complex. Totally disagree. Smart money don't care about fancy indicators and lots of lines and levels. They use the good old trend lines and supports and resistances.
We just need to check for price action at the levels i depicted. Especially daily candle...
I tried to look from a broader perspective to the pair. That small zone seems to be a hardresistance to break as it is gathering several blockages.
Bulls needs to spend more than ever to pass this one. Maybe it will be easier to fall and rise.
Please everyone make your own research and risk management. If you share it, we can get benefit from it.