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  • Writer's pictureShivkumar

4th Feb Crypto Technical & Market Watch

(By Shivkumar)



Bitcoin has been trading inside the $9,200 to $9,600 range for the past few days. The bulls and bears are playing it safe.Bearish below at $8,897 is possible.Bullish above $ 8897 and can rally above $ 9600 and $10,360.89 is possible.  For now, the stops on the buy positions can be kept at $8,200.


The bulls from the current levels will increase the possibility of a breakout of $197.75. On a break above $197.75, the next target to watch out for is $223.999. Bearish Below $171.46 and traders can book partial profits on the buy positions at current levels and trail the stops on the rest to $170.


If the buyers can push the price above $0.28132, a move to $0.31503 is possible. Bearish if it turns down from the current levels.The stops on the buy positions can be kept at $0.21.


Bitcoin Cash has been consolidating between $360 and $400 for the past few days. Bullish if the price above at $403.88, pair will resume its up move. The next target to watch on the upside is $440 and above it $480. Bearish below the support at $360 and at $347, the pair will turn negative and can fall to $306.78. 

Disclosure: The author holds no cryptocurrency at the time of writing.

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