The daily turnover of Bitcoin Futures (BTC) decreased sharply from about $ 20 billion on June 11 to about $ 5 billion on June 13. This is a negative sign, as volume increased during a sharp drop on June 11, but fell during recovery on June 12 and 1.3.
On June 14, CoinMarketCap’s higher digital currency fell, but the size of the future increased, indicating more bearish deals on the market downturn and few bullish deals when withdrawing funds.
Despite the fact that trading volume was low, open interest in the derivative bitcoin currency for the first time in three months rose to around $ 4 billion. This indicates that the long-term players have not left their positions yet, because they do not see a significant drop from today’s levels.
Not only has Bit Bitoin increased interest, but ETH futures have also set records. This indicates that institutional investors are diversifying their crypto portfolio, increasing their position in the largest alternative currency.
Retail investors should not be left either. Glass knot data shows that the number of wallets containing 0.1 Bitcoin and a similar amount of ether (ETH) is large over a lifetime.
BTC / USD
Bulls’ inability to push the price above the 20-day exponential moving average ($ 9,495) over the past three days has led to more sales. Today, Bitcoin (BTC) is broken below the symmetrical triangle reference point.
While the crash was very negative, bears were unable to keep sales pressure at lower levels.
The BTC / USD pair has moved from $ 8,910.04 and is currently rising to the Triangle. If the bulls can push the price through the EMA for 20 days, another attempt is to break out of the $ 10,000 to $ 10,500 area.
Conversely, if the bears defend the EMA for 20 days again, they will likely make another attempt to drown the pair below the triangle. Closer (UTC time) below the triangle would be very negative and could lead to a drop to $ 8,638.79 and below it to $ 830.58.
Since both bulls and bears are trapped in the spatula to prevail, volatility is likely to remain high for the next few days.
ETH / USD
Ether broke during the uplink on June 11th. Unlike the previous failure (deletion marks were marked on the map), the bull was unable to push the price into the channel and support it.
This attracted more sales, and the cryptocurrency broke second in CoinMarketCap below the uptrend line. There is little support on the 50-day simple moving average ($ 217), after which the drop could reach $ 196, then $ 176,112.
On the other hand, if the ETH / USD pair bounces back from the 50-day moving average and settles above $ 225,783, this would indicate a strong drop in demand. This could result in a consolidation of $ 253,556 – $ 225,783 over several days.
XRP / USD
Weak bounce from evidence to symmetrical triangle indicates absence of buyers from above level. Currently, bears are trying to sink XRP under the triangle. The 20-day weak moving average ($ 0.177) and RSI in the negative area indicate the bear’s advantage.
When closing (UTC time) below the triangle, the cryptocurrency can fall in third place in CoinMarketCap to $ 0.16, and if this support breaks too, the next support will be $ 0.14.
However, if the bulls are able to keep the BCH / USD inside the triangle, this will indicate an accumulation at the lower levels. The advantage for bulls will be to break above the triangle.
BCH / USD
Although Bitcoin Cash (BCH) has been trading in a wide range of $ 200-280.47 in recent months, the price has remained stuck in recent days at a tougher level of $ 217.55-255.46.
Bears is currently trying to sink 5th in cryptocurrencies at CoinMarketCap with support from $ 217.55. If successful, it will likely drop to $ 200. Bulls are likely to strongly defend the $ 200-217.55 area, and a breakout in this area would be highly negative.
Conversely, if the BCH / USD pair returns from the $ 200 – $ 217.55 region, this will indicate a lower level accumulation. It will also keep the couple close at hand and may provide buying opportunities.