Some crypto traders have started to take profits off the table in anticipation of this week’s FOMC, but if the Fed decision matches with investors’ expectations the entire market could rally.
to be between $150,000 to $350,000, which isa massive increase from the current levels.
What are the important support levels to watch out for in Bitcoin and the altcoins? Let’s study the charts to find out.After several failed attempts, the S&P 500 closed above the downtrend line on Jan. 26. However, the bears are not willing to surrender without a fight.The sellers are trying to halt the recovery at 4,101, but the up-sloping 20-day exponential moving average and the relative strength index in positive territory indicates that the path of least resistance is to the upside.
Alternatively, if the bears yank the price below the moving averages, several aggressive bulls may get trapped and the index could then tumble to 3,764.The U.S. dollar index is falling inside a descending broadening wedge pattern but the bulls are trying to protect the support at 101.29.The bounce could face selling at the 20-day EMA because bears defended this level during downtrends. If the price turns down from the 20-day EMA, the likelihood of a break below 101.29 increases.
On the contrary, if the index rises above the 20-day EMA, it will suggest strong demand from the bulls. The index could then rise toward the resistance line of the wedge. The bulls will have to clear this hurdle to suggest that the short-term downtrend may have ended.Bitcoin rose above the resistance at $23,816 on Jan. 29 but the bulls could not build upon the momentum on Jan. 30. That may have tempted short-term traders to book profits and the price has dropped down toward $22,800.
On the other hand, if bears pull the price below $22,800, the correction could deepen to the 20-day EMA and then to the psychological support at $20,000.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
SOL and ADA Price Analysis for January 30Which altcoins can withstand the possible market fall? CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io
Baca lebih lajut »
Binance Coin (BNB) Price Analysis for January 30Can BNB remain above $300 despite sellers' pressure? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX BinanceResearch
Baca lebih lajut »
Alexa Knierim and Brandon Frazier reclaim U.S. figure skating titleOrange County-based pairs team wins national title by more than 30 points.
Baca lebih lajut »
30 Years Ago, Joe Dante's Matinee Explained the Wonder and Terror of CinemaMatinee is now as old as the Cuban Missile Crisis was at the time of the movie's release. Doomsday clock notwithstanding, today’s threats of annihilation feel less coordinated: Will a pandemic get us before climate change does?
Baca lebih lajut »
Novak Djokovic Is Going to Win 30 MajorsThe Serbian won his 10th Australian Open and 22nd major title with little trouble.
Baca lebih lajut »