About a third of institutional investors surveyed by Fidelity said they were investing in digital assets. 25% of respondents said they have bitcoins (BTC) and 11% said they have ether (ETH). Although these are encouraging signs, the future looks brighter as 91% of those surveyed expect to keep at least 0.5% of their cryptocurrency portfolio over the next five years.
According to Skew, the total benefit from open Bitcoin options has increased from $ 1 billion on May 7 to more than $ 1.5 billion on June 9. This shows growing interest among institutional investors who expect the highest-ranked CoinMarketCap cryptocurrency to take a decisive role. steps the next few days.
In recent weeks, the US stock markets have grown with increasing optimism about a sharp economic recovery. The tech-heavy Nasdaq peaked in life, demonstrating delight among investors. However, eToro CEO Yoni Assia warned investors about a three-week stock market crash.
If the stock markets are adjusted sharply, money is likely to fall into safe assets. Although a small portion of this money goes to Bitcoin, a strong trend can occur.
Let’s examine the graphs to determine the critical levels to be displayed.
BTC / USD
Bitcoin (BTC) is preparing for a serious step. As the 20-day exponential moving average ($ 9,556) gradually flips up and the RSI is in the positive zone, the bulls have an advantage.
A break and close (UTC UTC) over a symmetrical triangle indicates strength and can lead to a possible rally up to $ 10,500. This is a critical resistance to note, because if the bulls manage to raise the price above it, the BTC / USD is likely to gain momentum and grow to $ 12,000.
This bullish forecast becomes invalid if the pair reverses the trend from today’s levels and falls below the triangle’s guideline. Below the triangle, a drop of 8 130.58 is possible. A break during this critical support will reverse the trend in favor of the bears.
ETH / USD
Although Ethereum surpassed its closest resistance by $ 247,827 on June 9, the bulls could not stand the breakthrough. This indicates a lack of demand at higher levels. The price returned to the range $ 247,827 – $ 233,449.
As long as the price remains in the upward channel and the moving averages continue to rise, the bulls have the advantage.
If the cryptocurrency bounces a second on EMA’s CoinMarketCap for 20 days ($ 231), the bulls will try to push it across the resistance range of $ 249,699 – $ 253,556. If successful, a move to the $ 280 bullish channel resistance is likely.
Conversely, if the ETH / USD bears fall below the 20-day EMA, it is possible to fall to the uptrend line, and then to the 50-day simple moving average ($ 212). A break below the 50-day simple moving average will indicate a possible trend change.
XRP / USD
Over the past few days, the XRP has traded near moving averages, indicating that both bulls and bears are not making big bets. Fixed moving averages and RSI near the midpoint indicate a balance between supply and demand.
CoinMarketCap’s third digital coin has formed a symmetrical triangle. The next step probably starts after the price breaks out of the triangle.
If the bulls can break and close (UTC UTC) the price above the resistance line in the triangle, a bullish trend will begin. A typical target for this formation is $ 0.2707. However, this will hardly be a direct breakthrough, as the Bears will face a severe test of $ 0.235688 and again to $ 0.246094.
A bearish screen will appear if the XRP / USD pair falls below current levels and falls below the triangle’s guide. The purpose of this level is the level of $ 0.1244. However, bulls are likely to protect levels of $ 0.16 and $ 0.14.
BCH / USD
Bitcoin Cash (BCH) returned from EMA within 20 days ($ 248), which is a positive sign. If the bulls can keep the price above $ 260, you can go to the top of the $ 280.47 range.
If bulls can carry the fifth-place cryptocurrency on CoinMarketCap over $ 280.47, it will likely be a new bullish trend. The purpose of this bullish move is $ 350.