BTC prices could stay in the range in the short term, but MATIC, HBAR, LDO and BIT could continue higher.
Bitcoin is the name
BTC
Lo en ve teh
$23,402 in total
prices have been rising over the last few weeks, but there is no confidence in the current rise. This suggests that buyers are eager to load up ahead of the release of January consumer price index data on February 14, which could increase short-term volatility.
Although the near-term outlook is uncertain, Delphi Digital analysts expect the US Federal Reserve to move towards an accommodative policy later this year, which could be good for risk assets.
Another harsh piece of evidence came from Dan Morehead, CEO of Pantera Capital, who said Bitcoin may have begun its “seventh bull cycle.” Morehead had a bear market of 376 days from November 2021 to November 2022. The price of BTC fell by 77% compared to the average decline of 307 days and the bear market average of 73% please.
Analysts have been bullish on Bitcoin for a long time, but the near-term remains uncertain.
By analyzing the bitcoin charts, you can determine the critical levels by selecting altcoins.
in BTC/USDT
Bitcoin showed strong support at $21,480 on February 10. The zone between the 50-day simple moving average ($20,347) and $21,480 will attract aggressive buying by the bull.
The first barrier on the downside is the 20-day exponential move ($22,347). It takes experience to show that the bulls are back in the driver’s seat. There are a few barriers at $22,800, but if this is the case, the BTC/USDT pair could make a retest at $24,255.
The bears are expected to defend the $24,255-$25,211 zone with all their might, and if this barrier is breached, both could indicate a possible trend reversal.
On the other hand, if it is below the 50-day SMA, the bears will suggest a return to the play. The pair could then look at an important support zone between $18,000 and $16,000.
As seen on the four-hour chart, the bull is looking to come back from $21,480, but will face a sell-off near the 20-day EMA. If the price rejects the current level and breaks below $21,480, the bears could aggressively attack the psychological level of $20,000.
The 20-EMA is flattening and the relative strength index (RSI) is rising gradually to the midpoint. This suggests that selling pressure may ease in the short term.
If buyers push prices above the 20-EMA, the pair could move up to $22,800, where bears could hold.
MATIC/USDT is used
It is a polygon
MATIC
Lo en ve teh
$1.2090 per square foot
Over the past few days, traders have taken their positions and bought in small quantities.
The moving average indicates that the bulls are dominating. The negative divergence in the RSI is concerning, but the positive sign is that the bears have failed to break below the 20-day EMA ($1.17).
This encourages a break above the $1.30 to $1.35 zone. If the bulls get the job done, the MATIC/USDT pair could move to $1.50 and then $1.70.
The first sign of weakness would be a break and close below the 20-day EMA. That opened the door to a $1.05 decline.
As you can see on the four-hour chart, the bears have strong resistance in the $1.30-$1.35 range, but the good thing is that the buyers are not giving the bears much ground. This suggests the bulls are waiting to move higher. A rally above $1.35 could both start another uptrend leg.
If the bears want to dominate in the short term, the price will have to fall below $1.20. This could increase the potential downside to $1.05. There is minor support near $1.15, but it may not hold.
HBAR / USDT
Most major cryptocurrencies have pulled back on their recent rallies, but Hedera Hashgraph
HBAR
Lo en ve teh
$0.07 per square meter
recently improved, settling above resistance at $0.08.
The 20-day EMA ($0.07) is trending higher and the RSI is in overbought territory, indicating bullish control. However, the long line on the February 12 candlestick indicates a higher level of selling.
The HBAR/USDT pair definitely put up a tough battle at the $0.08 level. If the bulls defend this level and turn to support, both may start a new rally towards $0.11. If this level is scaled, the upside can expand to $0.15.
Conversely, bears in a rally when the price is below breakout levels
