Why I'm Bearish On BTC and ETH
Tradenalytics Tradenalytics
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 Published On Apr 4, 2024

$BTC Bitcoin has fulfilled these predictions in the repost:

- Climbing to the $69k region✅
- The ModSchiff Median becomes support ✅
- Consistently low volume ✅

Now looking for #bitcoin to interact with the Median Upper Parallel (1), which coincides with the 200 H4 SMA.

Approach has been on low volume (2). Nothing abnormal detected yet.

If the price breaks above that region on high volume, it is BULLISH.

If the price rejects that line with high volume, it is highly BEARISH.

$ETH Ethereum is in a slight upward move, and a possible price target for now is $3,500.

It represents the Upper Parallels of the Median and ModSchiff Median (1).

Volume on the approach has been low and decreasing rapidly (2). For a bullish scenario, the volume here should be high.

The price also did not interact with the ModSchiff Median (3). This usually suggests that the price has not yet completed its descent.

My conclusion would have to be bearish for now, with a likely short term price rise to around $3,500.

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