Bitcoin rose a few steps of $63,000 today. The latest surge in the price may have been caused after various documents pointed to the eventual approval of a futures-based BTC ETF by the United States Securities and Exchange Commission.
BTC
Bitcoin formed a Doji candlestick pattern on the 14th, signifying indecisiveness among the bulls and the bears above the $58,000 level. This doubt resolved to the upside today and the rally has restarted. The 20-day exponential moving average of $52,868 is sloping up and the relative strength index is in the overbought zone, suggesting that bulls are in control.
ETH
Ether bounced off the 20-day EMA of $3,479 on the 13th and broke above the neckline of the inverse head and shoulders pattern on the 14th. This completed the bullish setup which has a target objective at $4,657. Both moving averages are sloping up and the RSI has broken above the downtrend line, suggesting that bulls are back in control.
BNB
The Binance Coin broke and closed above the neckline on the 1th3, completing an inverse H&S pattern. This bullish setup has a pattern target at $554. The bears tried to pull the price back below the breakout level but the long tail on the day’s candlestick shows buying at lower levels. The moving averages have completed a bullish crossover and the RSI is in the positive zone, signifying that the bulls have the advantage.
ADA
The bulls are trying to push ADA back into the symmetrical triangle pattern but the bears are not yielding. They are defending the support line and the 20-day EMA of $2.21 aggressively. If the price turns down from the current level and breaks below $2.07, ADA could drop to $2 and next to $1.87
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