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The US dollar index (DXY) plunged below level 98 on April 21, falling to a three -year hollow. This catappered gold at a new summit of all time, and Bitcoin (BTC) also showed a force, exceeding $ 88,000.
Bitmex’s co-founder and Maelstrom investment director of investment, Arthur Hayes, believes that it may be the “last chance” to buy Bitcoin below $ 100,000. Hayes expects the federal reserve to announce the buyouts of the American treasury, which will act as a “bazooka” for the trajectory of bitcoin prices.
The whales seem ready for the move higher, because they accumulated in March and April. According to Glassnode data, the number of portfolios holding more than 1,000 bitcoins increased from 2,037 at the end of February to 2,107 on April 15.
Could Bitcoin Bulls maintain higher levels, triggering a rally to $ 100,000? Will altcoins follow? Let’s analyze the graphics to discover it.
The recovery of the S&P 500 index (SPX) struck a wall with an exponential mobile average of 20 days (5,399) on April 14.
Level 5 119 is the critical support to be monitored when falling. If this level is removed, the index could increase to 4,950. Bulls should vigorously defend the area between 4,950 and 4,835.
Instead, if the price bounces 5,119, it indicates that the bulls are trying to form a lower low. The index could then oscillate between 5,119 and 5,500 for a while. Buyers will have to generate the price of more than 5,500 to indicate that the correction can be completed.
The US dollar index resumed its downward trend on April 21, indicating that bears are in charge.
The index could collapse at 97.50, which could act as strong support. The level of occurrence on the relative resistance index (RSI) indicates a possible short -term rescue rally. Sellers should aggressively defend the area between 99 and 100.27 on any recovery attempt. If the price drops in the air area, the index risks a drop to 95.
The first sign of strength will be a break and close above the resistance of 100.27. This indicates solid purchases at lower levels. A short -term change of trend is likely if buyers propel the price higher than the 20 -day EMA (101.64).
Bitcoin has made a higher decisive movement after narrow -reaching days of negotiations, and the price has reached a critical resistance to the 200 -day SMA ($ 88,238).
The mobile averages are about to finish a bullish crossing, and the RSI has increased in a positive territory, indicating an advantage for buyers. If the 200 -day SMA is set up, it suggests that the BTC / USDT pair can have a short -term background. The pair could come together at $ 95,000 and subsequently at the psychologically vital level of $ 100,000.
The 20 -day EMA ($ 84,176) is likely to act as strong support during any perspective. A break and close below the 20 -day EMA indicates that the bears are back in the game. The pair can then increase to $ 78,500.
Ether (ETH) remains in a downward trend, but the Bulls are trying to start a rescue rally by pushing the price above the 20-day EMA ($ 1,659).
The recovery should face the sale in the area between $ 1,754 and the 50 -day SMA ($ 1,846). If the price decreases in the air area, it increases the risk of a breakdown of less than $ 1,368.
Unlike a break and close above the 50-day SMA opens the path with a rally at the level of a breakdown of $ 2,111. Sellers should defend the level of all their forces, because a break above suggests that the ETH / USDT pair can have a background. The pair can then reach $ 2,600.
XRP (XRP) exceeded the 20 -day EMA ($ 2.09), indicating that the bearish momentum has weakened.
There is a 50 -day SMA resistance ($ 2.21), but if the level is crossed, the XRP / USDT pair could walk towards the resistance line. Sellers should fiercely defend the resistance line because a gathering above points out a change in potential trend.
The level of $ 2 is the downward crucial support. A break and a closure below $ 2 indicates that the bears remain in control. The pair can then drop to $ 1.72 and finally to $ 1.61.
BNB (BNB) came out of the line down on April 21, indicating that the Bulls are trying to take control.
A fence above the downward trend line opens the doors for a rally at $ 645. Sellers will try to stop the UP movement at $ 645, but if the Bulls do not give up much ground, the BNB / USDT pair can reach $ 680.
Time is exhausted for bears. If they want to make a return, they will have to quickly make up for the price below $ 566. Such a decision indicates that the markets have rejected the break over the downward trend line. The pair could then spend a little more time inside the triangle.
Solana (soil) gradually climbed to the resistance area at general costs from $ 148 to $ 153, indicating that bears lose their grip.
Mobile averages are about to finish a bullish crossing, and the RSI is in the positive area, indicating that the slightest resistance path is upwards. The ground / USDT pair could be reset to $ 180 if buyers pierce the air area.
In relation: Bitcoin Longs cut $ 106 million – Do Bitfinex BTC whales are becoming lower than $ 86,000?
On the contrary, if the price drops sharply from the air area, this suggests that bears sell rallies. This could maintain the limited pair beach between $ 153 and $ 120 for a while.
DOGECOIN (DOGE) hung on to the 20 -day EMA ($ 0.16), indicating that the reduced sales pressure.
The 20 -day EMA flattening and the RSI near the median point suggest a balance between supply and demand. A break and close above the 50-day SMA ($ 0.17) inclines the advantage in favor of the bulls. The Doge / USDT pair could then come together at $ 0.21.
The level of $ 0.14 remains the key support to be monitored when it comes down. Sellers will have to draw the price of less than $ 0.14 to report the recovery of the downward trend. The pair could drop to $ 0.13 and later at $ 0.10.
The Bulls try to maintain Cardano (ADA) above the 20-day EMA ($ 0.63), signaling a return.
The ADA / USDT pair could reach the 50 -day SMA ($ 0.69), which is a short -term crucial resistance to monitor. If buyers stupid the price above the 50-day SMA, this suggests that the corrective phase can be finished. The pair could climb $ 0.83 and subsequently $ 1.03.
If the price decreases compared to SMA of 50 days, the Bulls will try to stop the decline in EMA of 20 days. If this happens, this increases the possibility of a rise above the SMA of 50 days. The advantage will bow in favor of bears during a break less than $ 0.58.
ChainLink (Link) closed above the 20-day EMA ($ 12.90) on April 19 and reached the 50-day SMA ($ 13.63).
The sellers will try to defend the 50 -day SMA, but if the Bulls overcome the barrier, the Link / USDT pair could take momentum and rally to the resistance line of the descending channel model. The level of $ 16 can act as an obstacle, but it is probably crossed.
The first support for the decline is 20 days EMA, then $ 11.68. A break and a closure below $ 11.68 suggests that the bears remain in control. The pair can then compete on the support line, where buyers should intervene.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
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