MicroStrategy's Significant Bitcoin Impairment Losses May Mislead: Berenberg
Bitcoin Approaches Formation of Death Cross as Dollar Index Hints at Golden Crossover
SEC Finds 'No Grounds' to Deny Conversion of Bitcoin ETF, Grayscale Says
Conclusion
- Bitcoin kept going up and traded above the $42,000 level.
- Ether (ETH) went up and tried to break through the $3,165 barrier.
- AAVE is up more than 10% and looks like it's getting ready for a bigger rise.
When you buy something with bitcoin, you get (BTC).
A steady rise above $40,650 led to even more gains. The price was able to break through the $41,250 and $41,400 points of resistance.
It even went above the $42,000 level and stayed above the simple moving average of 21 for a while (H1). After making a lot of money, the price has now come back down and is trading below $42,000. On the hourly chart, there is a big bullish trend line at $41,650. There is a short-term support there.
At $41,250, you'll find the next big level of help. Any more losses could make people more likely to sell, and the price could fall to $40,700.
Ethereum(ETH).
ETH kept going above the $3,080 level and the 21 simple moving average, which is a good sign (H1). People tried to get rid of it near the price of $3,165. It even went above that level.
This means that the price is now regaining ground above the $3,100 level, where it had lost ground. If you look at the hourly chart, you can also see a connecting bullish trend line with support near $3,100. There could be a big drop if the trend line is broken and closed below.
On the upside, the price could hit a wall near $3,165. A clear break above the $3,165 level could open the door for another rise. In this case, the price could even rise above $3,200.
AAVE
AAVE started to go down from the $250-$260 resistance zone. The price fell and traded below the $220 support level.
This is how it looked: There was a clear move below the $200 support zone and the simple moving average for the last 21 days. While bulls were active in the $150-$155 range, they were also active in other places. A low was made near $155 and the price began to rise again.
There was a move above the 23.6 percent Fib retracement level of the big drop from the $260 swing high to the $155 low, but it didn't last long. This is where the bulls have run into problems. They now have to deal with resistance at $200 and the simple moving average of 21 days.
It could be $210 or the 50 percent Fib retracement level of the big drop from $260 to $155 as the next big barrier. This is what you should watch for.
There could be a big move towards the next barrier at $250 in the next few days if there is a clear break above the $200-$210 level.
ADA, BNB, and DOT Price.
Cardano (ADA) is slowly moving up towards the $0.988 level. The $1.00 level is still a good place to look for a break.
Near the $425 level, BNB is putting in a good show. It's next to the $435 level where the price could start a big rise to $450.
Dot (DOT) has gone up 4% and traded above the $19.00 level today. It could move to $20.00 if the bulls keep going.
LUNA, APE, and SNX are some of the most popular coins at the moment. Out of these, SNX is moving faster above the $6.5 level.
