Outlook on February 9:
Analytical review of cryptocurrencies on the hourly chart:
In the one-hour chart, the key levels for Bitcoin are 54128, 51803, 49641, 48614, 45957, 44308 and 42582. The price of the leading cryptocurrency has formed a local upward trend from February 7 to continue the main trend. In this case, we expect growth to resume after the price passes the noise range of 48614 - 49641. The target is set at 51803 and the price may consolidate near this level. The final upward target is the level of 54128. After reaching it, the price may consolidate and pullback downwards.
A short-term decline, in turn, is expected in the range of 45957 - 44308. If the last value is broken, a deep correction will occur, with the target located at 42582. This is the key support level for growth.
The main trend is the upward trend from January 31 & local upward trend from February 7.
Trading recommendations:
Buy: 49641 Take Profit: 51803
Buy: 51805 Take Profit: 54128
Sell: 45957 Take Profit: 44310
Sell: 44306 Take Profit: 42582
In the one-hour chart, the key levels for Ethereum are 2051, 2002, 1891, 1851, 1781, 1715, 1672, 1604 and 1488. The price has drawn up the local initial conditions from February 7 to further develop the upward trend. In this case, we expect it to continue moving upwards after the level of 1781 is broken, setting the target at 1851. The price overcoming the noise range of 1851 - 1891 should be accompanied by a strong growth towards the target of 2002. The final upward target is the level of 2051. Once this level is reached, the price may consolidate and pullback downwards.
Meanwhile, a short-term decline is expected in the range of 1715 - 1672. If the last value is broken, a deep correction will follow, leading us to the target of 1604. This is the key support level for growth.
The main trend is the local upward trend from February 7.
Trading recommendations:
Buy: 1781 Take Profit: 1851
Buy: 1891 Take Profit: 2002
Sell: 1715 Take Profit: 1672
Sell : 1670 Take Profit: 1605
