BTCUSDT Analysis by harmynder

Bitcoin is cooling off after touching the red sell zone, it touched three standard deviations, came back to the buy zone, and dropped about 5.5%. Bitcoin topped near 107,000 and now it’s at 101,412. Ethereum shows a similar pattern with weakness compared to Bitcoin, touching at 3494 and dropping nearly 6%, bouncing in the buy zone. The analysis implies a bullish trend for the long term with a target of 120,000 for bitcoin, using previous lows at around 89000 as the analysis fail zone. The target for ETH was inferred to be 3800 with the analysis failing at 2600. Major indices show the same story where they have reached the selling area and are now correcting.