- Extraordinarily strong supports increase bullish options.
- XRP remains in the hands of the bears at the height of the bullish moment.
- Again, everything is at the expense of what the Ethereum does.
The upward pressure continues on resistance levels that are becoming more and more technical with each passing day. Bitcoin maintains the bullish pulse and continues to make raids above $4,000 but without consolidating the level for the time being. Each time this happens, the price level becomes more robust and complicates the next attempt.
ETH/BTC 240 Minute Chart
According to the ETH/BTC chart, it could be a couple of days before the temporary development naturally provokes an exit from the current scenario.
If the chart breaks through the top, Ethereum would take the lead up and Bitcoin would probably delay its bullish break in the expectation that the inertia of a bullish market would help it break the price congestion resistance level which is at $4,050.
-636885892646529337.png)
A break at the bottom of the triangle would inevitably lead us to the scenario of generalized price reversals. These reversals would look for nearby support levels and may accumulate bullish strength and raise a bullish break in the coming weeks.
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BTC/USD 240 Minute Chart
The BTC/USD pair is trading at the $3,959 price level after managing to move above $4,000 during the Asian session but failing to consolidate. Bitcoin finds itself navigating between resistance levels and long term support with a structure that gives signs of exhaustion.
Above the current price, the first resistance level is at the price level of $4,050 (price congestion resistance). When the BTC/USD manages to close above this resistance level, the market will have confirmation that the bullish trend is back on track. At least up to the second resistance level at the price level of $4,200 (price congestion resistance and relative maximum). Above this price level, Bitcoin could gain speed and move quickly to the third resistance level at $4,600 (price congestion resistance).
Below the current price, the first support level for BTC/USD is at the price level of $3.960 (price congestion support), while the second support level is an essential confluence between the $3.921 (EMA50) level up to the $3.832 (SAM200) level through the $3.895 (price congestion support) and the $3.868 (SMA100) level. As we can see, an authentic safety net. If support of such magnitude were drilled down by BTC/USD, the trip to the third level of support at $3,695 (price congestion support) would be speedy.
The MACD on the 4-hour chart continues to show a bullish consolidation profile, albeit with a point of agony typical of epic movies. The virtue that every trader needs now is patience.
The DMI on the 4-hour chart gives us more accurate information. Bulls keep an advantage over bears that benefit from the loss of trend strength (ADX) to get over and back into the game.
ETH/USD 240 Minute Chart
The ETH/USD pair trades at the price level of $138.6 and remains very close to the trio of moving averages that continues to push the price higher and compresses it against the resistance level at $142.5 (price congestion resistance).
Above the current price, the first resistance level is at the already quoted level of $142.5, so the second resistance level is at $150.5 (price congestion resistance), while the third resistance level for the ETH/USD pair is $161.5 (price congestion resistance).
Below the current price, the first support level is the confluence of the three moving averages at $137.5 (EMA50), $137.1 (SMA200) and $135.7 (SMA100). The second level of support is somewhat far, at $130.5 (pro-congestion price support) and the third level of support for the ETH/USD pair is at $120 (congestion price support).
-636885894938594925.png)
The MACD on the 4-hour chart shows an indicator that continues to cross down and very close to the zero levels, so a bullish reaction is expected in the next few hours.
The DMI on the 4-hour chart shows the bulls controlling the market while the bears are passive and unwilling to dispute the bullish control.
XRP/USD 240 Minute Chart
The XRP/USD pair is currently trading at $0.315, remaining in the tangle of stockings that have been trapping the XRP for several days.
Above the current price, the first resistance level is at $0.317 (price congestion resistance), then the second resistance level is at $0.328 (price congestion resistance) and the third resistance level for the XRP/USD pair is $0.334 (price congestion resistance).
Below the current price, the first support level is the confluence of the moving averages at $0.3164 (EMA50), $0.3161 (SMA200) and $0.314 (SMA100). The second support level is at the price level of $0.308 (price congestion support), and the third support level for the XRP/USD pair is at $0.305 (price congestion support).
-636885898707123441.png)
The MACD on the 4-hour chart is in a final phase of the healing process. Moving averages have reached the neutral level of the indicator and should show an uptrend. The XRP has us used not to respect this level and make incursions through the negative zone of the indicator.
The DMI on the 4-hour chart shows a radical change compared to the Bitcoin and Ethereum. In the case of the XRP, the bears have control after taking advantage of the fall of the ADX to free themselves and overcome the bulls. The latter remain above level 20, so they can react quickly if the money reappears.
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