Keep an eye on 37.2-37.4K area

Morning guys,

So, market shows good performance in general and barely has not reached our 42K target. You probably heard about stunning Fed statement yesterday that has triggered the collapse on FX and Gold market. Now take a look to cryptos - not bad resistance to the dollar's strength. Although we have some pullback but it is slow and gradual. It doesn't shows features of reversal. Thus, we think that BTC is still keeping bullish context, aiming to the same targets of 42 and maybe 43.3K - major daily 3/8 resistance.

But - keep an eye on strong 37.20-37.40 support area here. Market has to stay above it. Otherwise short-term bullish context will be broken and ultimately BTC could return back to 31K. If you want to buy - you also could use this level with tight stops just below it. This area doesn't guarantee the success, but provides best risk/reward ratio, minimize risk and gives chances to tight stops to breakeven later.