Friday, January 27, 2023
BTC NOON
  • Home
  • News
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoins
  • BNB
  • DeFi
  • NFT
  • Luna Crash
  • Regulation
No Result
View All Result
BTC NOON
No Result
View All Result
Home Altcoins

BTC breathes altcoins hope amid a bearish backdrop

Artem Bogdanov by Artem Bogdanov
September 12, 2022
in Altcoins
0
Whale Watching 101 – Guppies vs Goldfish
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


  • Bitcoin price reveals exhaustion signs after a 20% ascent in less than five days.
  • Ethereum price flips the $1,730 hurdle into support level in an attempt to fill the FVG at $1,820.
  • Ripple price hits a ceiling at $0.357 and is likely to retrace to $0.340 before attempting another leg-up.

Bitcoin price has seen a massive spike in bullish momentum that has caused the spotlight to shift from LUNA’s 350% run-up to BTC. Ethereum and Ripple have also rallied due to this run-up and are currently consolidating to establish a new directional bias.

Bitcoin price to rediscover its next move

Bitcoin price has tagged the $20,692 and $21,874 targets as mentioned in the previous publications. The main trigger for this move was a sweep of the sell-side liquidity resting below the $19,511 support level. 

As BTC hovers around $22,000, investors need to pay close attention to the resistance barrier, extending from $22,850 to 23,000 and the imbalance, aka Fair Value Gap (FVG) at $23,164. A revisit to these levels could result in a local top formation. 

The aftereffects of this move would include a sell-off in Bitcoin price to $18,497 and $17,570, which would align with the bearish outlook from a macro perspective.

BTC/USD 6-hour chart

BTC/USD 6-hour chart

While things are looking up for Bitcoin price, a flip of the $25,000 hurdle into a support level will invalidate the bearish thesis. This move would trigger sidelined buyers to step in and catalyze a run-up to $28,000.

Ethereum price waits for an opportune moment

Ethereum price rallied 25% in the last 13 days – a higher return than Bitcoin. The advance pushed ETH to flip the $1,730 resistance level into a support floor as it tried to retest the imbalance at $1,820, known as FVG. After sellers took control, ETH fell back and retested the $1,730 barrier and is now trying to breach below it.

If successful, it could trigger an Ethereum price crash to $1,290, which is another stable support level. However, due to the Merge and the volatility that comes with it, investors should consider the possibility of ETH disagreeing with the market trend and visiting the $2,000 psychological level once more before a move to $1,290.

ETH/USD 1-day chart

ETH/USD 1-day chart

While things are not looking so good for Ethereum price, a daily candlestick close above $2,034 will create a higher high and invalidate the bearish thesis. This development could see ETH revisit the $2,200 and $2,500 hurdles. 

Ripple price ready to make a move

Ripple price rallied 16% after sweeping the August 29 swing low at $0.318. This development was followed by a massive run-up that is currently attempting to overcome the $0.360 resistance barrier.

While flipping this blockade will allow Ripple price to realize more gains, a failure could result in a pullback to $0.340. If buyers step in at this level, they could catalyze another move to $0.381, which is another major resistance barrier. 

XRP/USD 1-day chart

XRP/USD 1-day chart

However, a breakdown of the $0.309 support level will invalidate the bullish thesis for Ripple price. In such a case, market makers might knock XRP price lower to collect the liquidity resting below the June 18 swing low at $0.286. 

 



Source link

RELATED POSTS

Top Crypto Trader Says One Ethereum Rival Could Erupt by 100%, Updates Outlook on Bitcoin and Altcoins

$321 Million Wormhole Hacker is Moving Funds, On-chain Data Shows

Tags: AltcoinsbackdropbearishbreathesBTCHope
ShareTweetPin
Artem Bogdanov

Artem Bogdanov

Related Posts

Top Crypto Trader Says One Ethereum Rival Could Erupt by 100%, Updates Outlook on Bitcoin and Altcoins

Top Crypto Trader Says One Ethereum Rival Could Erupt by 100%, Updates Outlook on Bitcoin and Altcoins

by Artem Bogdanov
January 26, 2023
0

A popular crypto trader says Ethereum (ETH) rival Fantom (FTM) could double in price while updating his outlooks on Bitcoin...

$321 Million Wormhole Hacker is Moving Funds, On-chain Data Shows

$321 Million Wormhole Hacker is Moving Funds, On-chain Data Shows

by Artem Bogdanov
January 26, 2023
0

A hacker who stole 120,000 ETH tokens, worth above $321 million at the time, from the Wormhole cross-chain bridge has...

Aptos Price Prediction as APT Pumps Up 37% in 24 Hours – Is Aptos the New Solana?

Aptos Price Prediction as APT Pumps Up 37% in 24 Hours – Is Aptos the New Solana?

by Artem Bogdanov
January 26, 2023
0

Source: TradingViewThe Aptos price has jumped to $18.44 today, with the layer-one cryptocurrency rising by as much as 37% within...

Bitcoin Remains Below $17,000 Price, Several Altcoins See Small Gains: Details

Bitcoin Remains Below $17,000 Price, Several Altcoins See Small Gains: Details

by Artem Bogdanov
January 26, 2023
0

Bitcoin opened Thursday with a miniscule gain of 0.21 percent as the crypto market, which has been low on the...

3 common mistakes altcoin investors make – CryptoMode

3 common mistakes altcoin investors make – CryptoMode

by Artem Bogdanov
January 26, 2023
0

There’s no doubt that altcoin investors can make much money if they do their research. But many people still don’t...

Next Post
[TC|Daily] ‘The biggest event ever in crypto’: Revix CEO on the ‘Merge’

[TC|Daily] 'The biggest event ever in crypto': Revix CEO on the 'Merge'

Queen Elizabeth NFT: Crypto degens take advantage of the Queen’s death and inundate markets with digital collections, memecoins

Queen Elizabeth NFT: Crypto degens take advantage of the Queen’s death and inundate markets with digital collections, memecoins

RECOMMENDED

Sen. Cruz Champions Cryptocurrency with the Reintroduction of the ACCEPT Resolution

Sen. Cruz Champions Cryptocurrency with the Reintroduction of the ACCEPT Resolution

January 26, 2023
Critical Hit? Dungeons & Dragons-Inspired Web3 Game Pivots Amid NFT Ban

Critical Hit? Dungeons & Dragons-Inspired Web3 Game Pivots Amid NFT Ban

January 26, 2023

MOST VIEWED

  • Donald Trump’s NFT Card Collection Sells Out In Less Than A Day

    Donald Trump’s NFT Card Collection Sells Out In Less Than A Day

    0 shares
    Share 0 Tweet 0
  • Destiny 2: Season of the Seraph Warmind Node locations

    0 shares
    Share 0 Tweet 0
  • How Did Sam Bankman-Fried’s Alameda Research Lose So Much Money?

    0 shares
    Share 0 Tweet 0
  • Project Cedar: Improving Cross-Border Payments With Blockchain Technology

    0 shares
    Share 0 Tweet 0
  • Could USDT Crash Like Luna? Here’s 3 Safe Options

    0 shares
    Share 0 Tweet 0

Recent News

Sen. Cruz Champions Cryptocurrency with the Reintroduction of the ACCEPT Resolution

Sen. Cruz Champions Cryptocurrency with the Reintroduction of the ACCEPT Resolution

January 26, 2023
Critical Hit? Dungeons & Dragons-Inspired Web3 Game Pivots Amid NFT Ban

Critical Hit? Dungeons & Dragons-Inspired Web3 Game Pivots Amid NFT Ban

January 26, 2023
Web3 Loyalty Programs Are Catalyst for Good Crypto Policy and Adoption

Web3 Loyalty Programs Are Catalyst for Good Crypto Policy and Adoption

January 26, 2023

Category

  • Altcoin
  • Altcoins
  • Bitcoin
  • Blockchain
  • BNB
  • DeFi
  • Ethereum
  • Luna Crash
  • News
  • NFT
  • Regulation

Follow Us

Find Via Tags

altcoin Altcoins analyst big Binance Bitcoin Blockchain BNB BTC buy Cardano Chain Coin Crash Crypto Cryptocurrency DeFi Digital dogecoin ETH Ethereum Exchange Eyes Finance FTX heres investors Launches Luna Market Merge News NFT NFTs Platform Prediction Price Protocol Regulation Solana Token Top Trading Week XRP

© 2021 BTC Noon

No Result
View All Result
  • Home
  • News
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoins
  • BNB
  • DeFi
  • NFT
  • Luna Crash
  • Regulation

© 2021 BTC Noon