Traders are taking a hands-off approach to Bitcoin and altcoins until BTC successfully flips the $20,000 level back to support. The bears are attempting to sink BTC below $19,000 to further strengthen their advantage over the crypto market.
BTC
The long wick on Bitcoin’s candlestick shows that bears continue to sell on rallies near the 20day EMA of $21,396. Although the bears pulled the price below $19,637, they have not been able to build upon the momentum. The bulls are attempting to push the price back above $19,637. If they succeed, BTC could again rise toward the 20 day EMA.
SHIB
SHIB has been trading in a range near the moving averages as the bulls attempt to form a higher low near $0.000009. Usually, a tight range trading is followed by a range expansion. If the price breaks above the 50 day SMA of $0.000010 , SHIB could pick up momentum and rally to $0.000012 and then toward $0.000014.
MATIC
MATIC turned down from the strong overhead resistance of $0.61 on the 26th of June and the bears pulled the price below the 20 day EMA of $0.50. A minor positive is that the bulls did not allow the bears to build upon their advantage and bought on the dip on the 30th of June. Since then, MATIC has been trading near the 20 day EMA. This suggests that the bulls are attempting to push the price back above the level.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CryptoNews . Every investment and trading move involves risk, The reader should conduct their own research when making a decision.
