The Future of Bitcoin and Other Cryptocurrencies: Technical Analysis and Expectations

There was a huge expectation among investors before Bitcoin’s “halving” event. The temporary suspension of geopolitical issues caused a rise in the Bitcoin price, increasing market volatility and leading to losses in the futures market. On the other hand, the Bitcoin graph draws attention with a narrowing wedge formation, and important support and resistance levels are being monitored. Bitcoin Technical Indicators In the daily Bitcoin analysis, daily closures above EMA 9 indicate a positive price movement. While important resistance levels are determined as $65,449, $67,376, and $69,359, a closure below $63,885 could cause a price drop. Ethereum and Ripple Analysis For Ethereum, the weekly chart shows an ascending channel formation and pressure near the resistance line. Support levels are listed as $2,861, $2,500, and $2,097, while closures above $3,274 can contribute to a price rise. Ripple, on the other hand, displays a narrowing wedge formation, with support levels set at […]

The Future of Bitcoin and Other Cryptocurrencies: Technical Analysis and Expectations

There was a huge expectation among investors before Bitcoin’s “halving” event. The temporary suspension of geopolitical issues caused a rise in the Bitcoin price, increasing market volatility and leading to losses in the futures market. On the other hand, the Bitcoin graph draws attention with a narrowing wedge formation, and important support and resistance levels are being monitored.

Bitcoin Technical Indicators

In the daily Bitcoin analysis, daily closures above EMA 9 indicate a positive price movement. While important resistance levels are determined as $65,449, $67,376, and $69,359, a closure below $63,885 could cause a price drop.

Ethereum and Ripple Analysis

For Ethereum, the weekly chart shows an ascending channel formation and pressure near the resistance line. Support levels are listed as $2,861, $2,500, and $2,097, while closures above $3,274 can contribute to a price rise. Ripple, on the other hand, displays a narrowing wedge formation, with support levels set at $0.4864, $0.4660, and $0.4429.

Useful Information

If Bitcoin closes below $63,885, the price could drop.
Bitcoin and Ethereum closing above EMA 9 can sustain the uptrend.
Closures above $0.5188 for Ripple indicate a price rise.

In conclusion, the technical analyses of Bitcoin, Ethereum, and Ripple provide important information about support and resistance levels to investors. These levels can play a critical role in shaping price movements and may be important for investors in shaping their buying and selling decisions.

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how to buy crypto?
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