cryptocurrencies It started to rise again as the end date of the ceasefire became irrelevant. While gains in altcoins exceeded 3%, BTC pulled its daily peak to $79,472. Since the earnings report announcement period of US companies has begun and the reports received so far are above expectations, we see that the stock market is rising and this rise supports crypto.
Bitcoin breaks trend line
Who broke the channel he was lingering on for more than 2 months? Bitcoin (BTC) With Trump’s statement, it is now moving above 80 thousand dollars. There was also a breakdown on the technical analysis front from different perspectives. For example, Washigorira shared the chart below and wrote that the trend line was exceeded. Bitcoin, which has left the 6-month trend line behind, can reach the Kumo cloud if it can see closures in its current region.
If the long-standing decline causes a V-type recovery, $94 thousand can be reached soon. Of course, this is a short-term movement and it is unclear at what levels the closures will occur. Moreover, Trump is a very volatile person, it would not surprise anyone if he made a statement tomorrow saying, “We are launching the biggest attack ever on Iran.”
In any case oil The prolonged period negatively affects global inflation at triple-digit levels. Moreover, since the increase in energy inflation has spread to food and other items in this period, it will be difficult for inflation to quickly return to the 2% target. This tells us that investors should be cautious.
Ethereum and altcoins
ETH At the time of writing, it is around $2,400. Investors are excited because it has remained below this level for so long. Although the decline occurred devastatingly in just 3 candles, the reversal is heavy and we have many upper wicks due to the volatile agenda. The risk of this movement remaining as an upper wick is high, as we explained above.
Sharing the ETH chart, DaanCrypto wrote that the $ 2,400-2,500 band is important. If things go well, the altcoin king could test the weekly 200MA. More importantly, a weekly close above 200MA will pave the way for $2,851 and accelerate the relief rally in altcoins.
ETHBTC The parity is being tested at its lowest levels in the last month. ETH, which cannot move as strongly as BTC, is left behind and must now recover from here. The reasonable scenario here is that if BTC slows down its rise by Friday, ETH can reach the level of 0.03089BTC while trying to catch up, and then the target becomes 0.03135BTC. In this case, altcoins also make double-digit gains.
