Takeshi Fujimaki, a former adviser to George Soros, said that Paul Theodore Jones is trying to catch a big trend. According to Fujimaki, John’s recent investment in Bitcoin (BTC) indicates he is worried about inflation and believes that cryptocurrency can benefit from such an environment.

Following the recent growth and popularity of the Grayscale Bitcoin Trust in recent months, Wilshire Phoenix, an investment company, has filed an application with the U.S. Securities and Exchange Commission for the establishment of a commonly traded Bitcoin fund. If the fund receives a green signal, it can attract institutional investors.

Over the past few weeks, the highest rated cryptocurrency on CoinMarketCap has struggled to break out of the resistance zone from $ 10,000 to $ 10,500. This may attract a profit margin from short-term bulls and sales of aggressive bears. Further weakening of BTC may have an impact on alternative currencies, but it may also lead to some profitable investment opportunities. Let’s look at some cryptocurrencies that can provide trading opportunities for bulls and bears.

BTC / USD
Bitcoin (BTC) is in conflict with the bear. The bulls are trying to extend the price through the upper resistance range to 10,000 – 10,000 dollars to resume the bullish move. On the other hand, the bears are trying to form a short-term peak at $ 10,000.

The BTC / USD pair fell from a critical level of $ 10,000 on June 10 and fell to a 50-day simple moving average ($ 9,254) on June 11th. Therefore, traders should carefully monitor these two levels, since the next step is likely to start after the price is broken from any of the levels.

If the pair rises above the ten-day exponential moving average ($ 9548), the bulls will try to raise the price to the level of $ 10,000. An outbreak in the region costing from 10,000 to 10,500 US dollars will mean a possible beginning of a steady upward trend.

Conversely, if the bears are drowning and the price remains below the 50-day moving average, a deeper correction is possible at the level of $ 8,638.70, and then at the level of $ 8,130.58. A break in this support may attract more sales and lead to a decline.

Currently, as the 50-day simple moving average still has an upward slope, the medium-term trend is favorable for the bulls, and the short-term trend has turned out to be unique, as evidenced by the bullish and bearish movement of the 10-day EMA.

Bulls bought a fall below the trend line (indicated by an ellipse on the chart), but it was difficult for them to maintain the deviation. This indicates the sale of any possible seizures from bears.

In the short term, the bearish trend line acts as resistance. If the pair breaks the line down, the bulls may make another attempt to raise the price to $ 10,058.52. This step can offer a trading opportunity for avid traders.

On the contrary, if the price falls and the trend line collapses, this will indicate the advantage of the bears. If the price remains below the trend line, the Bears will make another attempt to drop the pair below the level of $ 9078.96. If successful, a new downtrend may be possible.

XTZ / USD
In recent weeks, Tezos (XTZ) has been trading in the uplink. However, on June 11, altcoin fell under the channel, which is a significant drawback. A large red light indicates that the bears are running.

With this separation, cryptocurrency also fell 11th in CoinMarketCap to below the 50-day SMA ($ 2.75). Both moving averages are on the verge of a bear cross and RSI in negative territory, indicating that the bears have gained the upper hand.

If the bears fall below the $ 2.5202 mark reached on June 11 during the day, the bearish trend is likely to begin. The next recession is $ 2.24, with an intraday low of May 10.

This bearish forecast will be the opposite if an uptrend unfolds and pushes the price back beyond the downtrend line. In this case, the trend may become a specific area in the short term.

The four-hour chart shows that the sales process accelerated after the price dropped below the channel and strengthened even more, breaking below the horizontal support of $ 2.8085.

To retreat from the lowest levels, the Bears defended a 10-EMA, which is another bearish signal. If the bears can miss the price below $ 2.5202, the XTZ / USD pair is likely to accelerate the fall.

Source: CoinTelegraph

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