Leading cryptocurrency Bitcoin (BTC) has dropped by about $ 1,000 after hitting $ 46,700 on Aug 10, and at the time of writing, BTC is trading in the $ 45,750 range. So what are the expectations for Bitcoin prices and best forex signals from now on?
↑ Significant levels in bitcoins.
According to SafeTrading analyst statements on the bitcoin price, $ 40,000, $ 39,000 and $ 38,000 are currently seen on the charts as strong supports, while $ 46,000 and $ 48,000 are considered resistance levels.
In addition, according to analysts of SafeTrading who have stated that BTC is currently trading between two important resistance levels, the price of Bitcoin may continue to trade horizontally for a while. At the moment, analysts say that there may be a noticeable rise in altcoins. In fact, the consequences of this situation have become visible in today’s altcoin market.
↑ If buying pressure increases.
- SafeTrading analysts say if buying pressure increases, the first target price will be $ 50,000. However, it is argued that resistance could be in the $ 48,000 range. It is argued that the first resistance above $ 50,000 may be in the $ 51,500 band, but with buying pressure, the rally to $ 60,000 may begin.
- After $ 60,000, strong resistance is likely to be met from the $ 65,000 range and the rally will continue to $ 72,000, which will be recorded as the next all-time high.
At this stage, it should be borne in mind that investing is very important in terms of risks, given that bullish expectations from best forex signals only reflect the thoughts of analysts and that any movement in the cryptocurrency market can happen at any time.
↑ If sales pressure increases
If BTC is not under pressure from sellers and investors start taking profits, then it can be traded as support levels of $ 42,000 followed by $ 40,000. Below $ 40,000, the first strong support is expected in the $ 38,000 range.
In addition, analysts say the strong support of $ 28,000 this time could be broken if it declines, while analysts say there could be a drawdown towards $ 18,000.
Ethereum continues to grow! Will there be ATH this month?
- After a record high of $ 4,362, Ethereum fell to $ 1,700, taking its share of the crypto market crash in May and June.
- Ethereum investors have been riveting attention to the London update to be made to the network during this period. They expected the update to lower Ethereum’s transaction fees, increase transaction speed, and increase its value by making Ether a deflationary asset.
- The update was made on August 5th. Based on expectations, Ethereum began to rise in value after it became clear that an update would be received. Ethereum is currently trading at $ 3233.
Ethereum broke the critical resistance of $ 2,900 3 days ago and began to rally. Ether, which continues to grow, can be expected to grow further. Technical data shows that Ethereum could rise to $ 3,350 if it consistently breaks through the $ 3,200 resistance. On the other hand, immediate support is near the $ 3110 level. The next important support is near the $ 3,050 level, below which the price could retest the $ 3,000 test.
Popular Crypto analyst Rekt Capital made a bullish forecast for Ethereum price. He says the second largest cryptocurrency is poised to hit record highs given its ongoing price movement.
Ethereum continues to grow! Will there be ATH this month?
Technically, Ethereum looks very strong on the weekly timeframe. The price is above the 20-week moving average Fibonacci 0.236 and the blue bullish channel. It looks like the RSI will be another really very soon.
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