1. Bounced off minor support at $36,155.01 and pushed above overhead resistance zone between 20-day EMA ($38,974) and $39,600.
2. If price sustains above $39,600, buying could pick up momentum and the BTC/USDT/USDT) pair could rally to the 50-day simple moving average (SMA) ($43,021).
3. Contrary to this assumption, if price turns down from current level, it will suggest that bears continue to sell on rallies.
4. Break and close below $36,155.01 could clear the path for a retest of the Jan. 24 intraday low at $32,917.17.
ETH/USDT
1. Turned down from 20-day EMA ($2,795) on Feb. 2 and dipped below support at $2,652 on Feb. 3.
2. 20-day EMA has flattened out and relative strength index (RSI) is just above midpoint, indicating that bears are losing grip.