Bitcoin priced the event, which started in the evening on Wednesday, well. The price continues to remain above the 32.000 support, which, of course, reduces the risk of the 29.000 dollar levels. Polkadot (DOT) is leading the market recovery with XLM. So what is the price expectation, what are the critical levels?
Overview of Crypto Currencies
Investors entered the bullish expectation again with the consolidation of the 32.000 support. The price made serious efforts to exceed the $33,000 level on Wednesday, but failed to do so. Bitcoin (BTC), which saw 32.900 levels during the day, could not overcome the resistance. This caused a slight retreat to occur. Bitcoin is finding buyers at 32.400 levels.
On the other hand, Ethereum has recovered from levels close to $1,700 and is currently settled at just over $2,000. As we have already said, the London hard fork would have caused the Ethereum (ETH) price to recover rapidly. Expectations were not unrequited, Ethereum (ETH) quickly turned the 2.000 level into support as Bitcoin turned its direction up.
The $33,000 resistance has not been overcome yet, but the bulls continue their tests without giving up. It is believed that this level will be easily exceeded with the support of a few positive news. Short-term indicators say that the strength is in the bulls.
Bulls may make more purchases in the coming sessions, these purchases to attract moving averages to reasonable levels will cause the price to rise rapidly. The MACD for Bitcoin (BTC) confirms that the rise will continue. The MACD, which has risen above the average line, raises hopes for an uptrend. If everything goes well, Bitcoin (BTC) can close the day above 34.000.
Polkadot (DOT), which has risen by 24% since Tuesday, has made the face of short-termists buying at the bottom price laugh. The bulls want to make their way to the 13 dollar by turning the current 20 dollar level into support. The bullish outlook was supported by the falling wedge pattern. This pattern often indicates the end of the correction.
The small increases in volume that may occur and the acquisition of time above the upper trend line for a while will strengthen the bulls’ hand. Polkadot (DOT) seems to have started its movement towards the 20 dollar, unless there are very big negatives. Of course, Bitcoin (BTC) movements will also be decisive at this point. By making a certain amount of stop trading, an exit can be made from points close to the 20 dollar levels. The fact that Bitcoin will see the 34.000 level will strengthen this goal.
The MACD and the RSI are pointing up on the four-hour chart.
The information shared here is for informational purposes only and does not contain any investment advice. Do not take advice on crypto money markets that are extremely risky and conduct your own research and transactions.