Over the weekend, the bitcoin price overcame the resistance of 18800.00 USD and returned to the POC line, near which it was in a narrowing sideways at the beginning of this month.
At the end of the week, the volume of purchases did not grow much and remained at an average level. If the pair consolidates in the area of ??the Volume Profile indicator line, buyers will try to break through the resistance of the 100% fibo level (19666.00 USD) once again. The target level of the bulls is the ceiling at around 20,000.00 USD. A break above this mark will be a new milestone in the history of Bitcoin.
The bears, for their part, will bet on the 100% Fibonacci level, and will try to repel the advancing bulls, turning the pair from this level into a pullback.
ETH/USD
Last Saturday, buyers consolidated above the hourly EMA55, and on Sunday, the Ethereum price tested the POC line (594.63 USD).
The bulls have not yet been able to break through to the level of 600.00 USD, but if buyers can gain a foothold in the area of the Point Of Control indicator line, then the recovery may continue to the area of 620.00 USD.
If today we see an aggressive reaction of the bears to the breakout of the 600.00 USD mark, then the pair will roll back to the support of the hourly moving average EMA55.
XRP/USD
Last weekend, the Ripple price could not overcome the resistance of the hourly EMA55, and until the end of the week, buyers fought the pressure of the bears, who were trying to push the pair below the psychological mark of 0.500 USD.
If the market is not dominated by optimistic sentiment today, sellers will be able to push the XRP price below fifty cents.
If buyers are able to break through the resistance of the moving average EMA55 this morning, then at the beginning of the week the pair will recover to the POC line (0.619 USD).
- The given material for orientation objectives!
- I shall forgive for my English - I use the translator!)
I wish you successful trading!
