Crypto currency manager at Kraken Jesse Powell said a large number of retail and institutional investors have opened accounts with them. This indicates that all types of investors are concerned about the current financial situation, and therefore have diversified their portfolio using cryptocurrencies. The flow of institutional funds is a positive sign, because it will give confidence to other institutions to take a step.
WisdomTree Investments, a New York-based asset manager, has requested approval to create a stock exchange fund that plans to invest about 5% of its net assets in Bitcoin Futures (BTC) and the rest in four commodity sectors. If the ETF receives legislative approval, it will be very positive.
S & P 500 has increased in recent days, but BTC, the highest rated cryptocurrency on CoinMarketCap, has stopped. PlanB, the inventor of the equity model to the flow, said that both assets are highly interconnected, but their current performance shows a big difference in the short term. Therefore, the stock market or Bitcoin growth is expected to be adjusted.
BTC / USD
In recent days, Bitcoin (BTC) has faced strong resistance from its 20-day exponential moving average ($ 9,476). EMA and RSI indicators for 20 days just below Level 50 indicate bulls are losing their grip.
If the bears drop the price below the trend line of the developing bullish triangle pattern, it will likely drop to $ 8,638.79, then to $ 8,130.58. If the price returns from this strong support, the BTC / USD pair may stay in the range for several days. However, if the pair falls below $ 830.58, it will be a major deficiency.
On the other hand, if speculators are able to scale the price over the EMA for 20 days, then it is possible to move to $ 10,000. The outbreak of $ 10,000 – $ 10,376.38 will complete the ascending triangle pattern with a target of $ 11,869.42.
ETH / USD
Ether currently combines between $ 225,873 and $ 239.35. The EMA has stabilized for 20 days ($ 232) and the RSI is getting close to the midpoint, indicating a balance between supply and demand.
A break below $ 225783 and a 50-day simple moving average ($ 219) will tilt the downtrend. The next drawback is $ 196,875, then the critical level is $ 176,112.
Conversely, if the coin ranked second in CoinMarketCap returns from its current level and leaves the $ 239.35 level, it is possible to move to $ 253.55. Above this resistance, the motivation is likely to increase, and the next level, which deserves attention – $ 599 288.
At hand, it is difficult to predict how an outbreak will occur. Therefore, it is best to wait for the price to start the trend step before starting any transactions.
XRP / USD
XRP sank in the symmetric triangle guideline. The harsh 20-day EMA ($ 0.195) and the negative RSI indicate that bears have captured it.
If the altcoin coin is broken and closed (UTC UTC) below the triangle, the bears will try to raise the price to $ 0.122, then to $ 0.144.
This downward bid will be negated if the fourth cryptocurrency on CoinMarketCap moves away from today’s levels and leaves the downtrend in the triangle. Close (UTC time) across the triangle could push the price to $ 0.214616, then to $ 0.235688.
BCH / USD
Bitcoin (BCH) deviated from its moving averages on June 17th. Bears are currently trying to bring the price down to a grant of $ 217.55. If this support is broken, the decline can be expanded to $ 200.
On the contrary, if you leave a 5th place cryptocurrency on CoinMarketCap levels today, bulls will try to push it back from the moving averages. If successful, you can move to $ 255.46.
If the BCH / USD falls below this level, the range is likely to continue for several more days. However, if the bulls are able to push the pair above $ 255.46, there is likely to be $ 280.47. This is critical resistance as the rally could rise to $ 350.
BSV / USD
Bears are trying to sink Bitcoin SV (BSV) under a support area between $ 170 and $ 165,380. The 20-day EMA fell ($ 183), and the RSI slipped below the 40 level, indicating that bears had replaced it.