Price analysis 7/30: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LTC

Traders expect altcoins to move higher now that Bitcoin price finally pierced the $41,000 resistance.

Bitcoin (BTC) and most major altcoins seem to be faltering near their respective overhead resistance levels. This suggests that some investors are continuing to sell at higher levels.

However, 21st Paradigm co-founder Dylan LeClair said that on-chain data shows “big transfer volumes from over-the-counter (OTC) desks over the last week.” Cointelegraph also recently highlighted a historic 57,000 BTC outflow from exchanges on July 28.

Ecoinometrics also cited on-chain data to show that “whales” and “small fish” accumulated Bitcoin when the price recovered from $29,400 to over $40,800 this week.

Daily cryptocurrency market performance. Source: Coin360

Institutional investors are also not to be left behind in their plans to accumulate more Bitcoin. MicroStrategy, which holds about 105,085 Bitcoin, said in its second-quarter report that the company intends “to deploy additional capital into our digital asset strategy.”

Wealthfront, a popular US-based robo-investment firm $25 billion in assets under management, announced that it would allow its clients to allocate up to 10% of their portfolio into Grayscale’s Bitcoin Trust and the Grayscale Ethereum Trust.

With demand increasing from small investors and high-net-worth individuals, will cryptocurrencies stage a sharper recovery? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin formed a Doji candlestick pattern on July 29, indicating indecision among the bulls and the bears near the $40,000 mark. That uncertainty briefly resolved to the downside and if the price does not hold its recent surge above $40,000 the price could drop to $36,670.

BTC/USDT daily chart. Source: TradingView

The moving averages have completed a bullish crossover and the relative strength index (RSI) is in the positive zone, indicating that bulls have the upper hand. If the price rebounds off $36,670, it will suggest that bulls have flipped this level into support.

The buyers will then again try to push the price above the overhead resistance zone at $41,330 to $42,451.67. This may not be easy because bears will try to defend this zone aggressively.

If the price turns down from the zone, the BTC/USDT pair could remain range-bound between $36,670 and $42,451.67 for a few more days. A breakout and close above $42,451.67 will suggest the start of a new uptrend.

The bears will be back in the driver’s seat if they can sink the price back below the moving averages.

ETH/USDT

Ether (ETH) reached the downtrend line today but the bears are defending the resistance aggressively. The price could now drop to $2,200 where buyers may step in and arrest the correction.

ETH/USDT daily chart. Source: TradingView

The moving averages have completed a bullish crossover and the RSI is in the positive territory, suggesting that bulls have the upper hand. If the price rebounds off the 20-day exponential moving average, the bulls will again try to thrust the price above the downtrend line.

If they succeed, the ETH/USDT pair could rise to $2,600 and then to $3,000. This positive view will invalidate if the price turns down from the current level and breaks below the moving averages. Such a move could sink the price to $2,000 and next to $1,728.74.

BNB/USDT

The bulls pushed Binance Coin (BNB) above the 50-day simple moving average ($310) on July 29 but they could not challenge the overhead resistance at $340. This suggests that buying dries up at higher levels.

BNB/USDT daily chart. Source: TradingView

The bears will now try to take advantage of the lack of demand to pull the price below the 20-day EMA ($305). A break of this support could result in a drop to the trendline and next to the July 20 low at $254.52.

On the contrary, if the price rebounds off the 20-day EMA, it will suggest buying on dips. The bulls will then make one more attempt to clear the overhead resistance at $340. If they pull it off, the BNB/USDT pair could rise to $379 and next to $400.

ADA/USDT

The failure of the bulls to drive Cardano’s (ADA) price above the 50-day SMA ($1.32) indicates that bears are aggressively defending the resistance.

ADA/USDT daily chart. Source: TradingView

If the price breaks below the 20-day EMA ($1.25), short-term traders may close their positions and that could drag the price down to $1.10 and later to $1. A break below $1 could result in long liquidation.

On the other hand, if the price rebounds off the 20-day EMA, the bulls will again try to push the price above the downtrend line. If that happens, the DOT/USDT pair could rise to $1.50 where bears may again mount a stiff resistance.

XRP/USDT

The bulls have failed to push XRP above the $0.75 level for the past two days, which suggests that bears are defending this level aggressively.

XRP/USDT daily chart. Source: TradingView

The moving averages are on the verge of a bullish crossover and the RSI is in the positive territory, indicating that bulls have the upper hand. If bulls do not allow the price to break below the 20-day EMA ($0.64), the XRP/USDT pair may rise above $0.75. That will complete a double bottom pattern, clearing the path for a possible rally to $1.07.

This positive view will invalidate if the price turns down and plummets below the moving averages. The bears will then try to pull the price to $0.59 and then to $0.50. Such a move will indicate that the range-bound action may continue for a few more days.

DOGE/USDT

The bears have been defending the $0.21 resistance for the past few days but a minor positive is that bulls have not given up much ground. This suggests that buyers are not closing their positions as they anticipate Dogecoin (DOGE) to move up.

DOGE/USDT daily chart. Source: TradingView

The flat 20-day EMA ($0.20) and the RSI above 45 suggest a balance between supply and demand. This balance will tilt in favor of the bulls if they can push and sustain the price above the 50-day SMA ($0.23). That may clear the path for a rally to $0.28 and then $0.33.

Conversely, if the price turns down from the current level and breaks below $0.18, the DOGE/USDT pair may drop to $0.15. This is an important level for the bulls to defend because if it gives way, the pair may witness panic selling and drop to $0.10.

DOT/USDT

The bulls pushed Polkadot (DOT) above the 20-day EMA ($14.15) on July 27 but they have not been able to clear the hurdle at the 50-day SMA ($16.05). This suggests that demand dries up at higher levels.

DOT/USDT daily chart. Source: TradingView

The price has turned down from the 50-day SMA today and the bears will now try to sink the DOT/USDT pair below the 20-day EMA. If they manage to do that, the pair could drop to $13. A break below this support could sink the pair to $10.37.

Contrary to this assumption, if the price rebounds off the 20-day EMA, the bulls will again attempt to push the price above the overhead resistance at $16.93. If that happens, it will suggest a change in the short-term trend. The pair could then start its journey to $20 and later to $26.50.

UNI/USDT

The bulls are attempting to push Uniswap (UNI) above the downtrend line but the long wick on the day’s candlestick suggests that bears have other plans.

UNI/USDT daily chart. Source: TradingView

If the price turns down from the current level but stays above the 20-day EMA ($18.50), it will indicate that bulls are buying on dips. That will improve the likelihood of a break above the downtrend line, invalidating the descending triangle pattern.

The UNI/USDT pair could then rise to $24 and if this level is crossed, the up-move may reach $30. Conversely, if bears pull the price below the moving averages, the pair may decline to $17.24 and then to the critical support at $13.

Related: Who takes gold in the crypto and blockchain Olympics?

BCH/USDT

Bitcoin Cash (BCH) is facing stiff resistance at $546.83. This suggests that bears are attempting to defend the resistance of the range and extend the consolidation for a few more days.

BCH/USDT daily chart. Source: TradingView

If bears pull the price below the moving averages, the BCH/USDT pair could witness further selling and drop to $441.17. A break below this level will open the doors for a further slide to the critical support at $383.53.

On the other hand, if bulls do not allow the price to drop below the moving averages, it will enhance the prospects of a break above $546.83. If that happens, the double bottom pattern will complete and the BCH/USDT pair could start its journey toward the target objective at $710.13.

LTC/USDT

Although bulls pushed Litecoin (LTC) above the 50-day SMA ($137) on July 28, they could not clear the hurdle at the overhead resistance at $146.54. This indicates that bears have not yet given up.

LTC/USDT daily chart. Source: TradingView

If sellers pull the price below the 20-day EMA ($130), the LTC/USDT pair could start its downward journey to the critical support at $103.83. Such a move will indicate that the pair may remain range-bound for a few more days.

Alternatively, if the price rebounds off the 20-day EMA, the bulls will make one more attempt to push the price above $146.54. If they succeed, the pair will complete a double bottom pattern, which has a target objective at $189.25.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Continue reading

Institutional demand for Bitcoin evaporates as BTC struggles below $31K

A lack of institutional demand and several bearish factors are complicating all efforts to pull Bitcoin price back above the $31,000 level.

The rocky road that Bitcoin (BTC) has been on for the past two months continued on July 19 as a widely predicted move downwards materialized in the early hours on Monday and dropped the price of BTC below $31,000. 

Data from Cointelegraph Markets Pro and TradingView shows that a wave of mid-day selling pushed the price of BTC to a low of $30,400 before bulls arrived to provide support and lift the price back to $30,850.

BTC/USDT 4-hour chart. Source: TradingView

The market as a whole continues to face an uphill battle as the miner exodus following China’s crackdown on the mining industry has led to the fourth consecutive negative adjustment in the Bitcoin mining difficulty, a figure which has fallen by almost half since mid-May.

Heavy volume near $31,700

Insights into the current state of the Bitcoin network were provided in the newest report from Glassnode which set the stage by looking at the UTXO Realized Price Distribution, a metric that identifies on-chain volume profiles across different price groupings.

Bitcoin UTXO realized price distribution. Source: Glassnode

Current data shows that 10.5% of the circulating supply of BTC has transacted in the range between $31,000 and $34,300, the highest level seen since a price of $11,000.

While this indicates a healthy level of volume at the current level, it’s important to note that should BTC price break lower, the next significant support levels are at $26,500, $23,300 and $18,800.

Institutional appetite for BTC dissolves

The market-wide pullback in May has led to a significant decline in interest from institutional investors, who now appear to be in risk management mode as BTC price struggles to climb higher.

Evidence of the decline in interest can be found by looking at the market price of GBTC, which continues to trade at an -11.0% to -15.3% discount, or by observing the net inflows to the Purpose ETF which has slowed down significantly. Data from Glassnode shows that the ETF saw a net outflow of -90.76 BTC, which is its largest outflow since mid-May.

Purpose Bitcoin ETF flows. Source: Glassnode

Although institutional activity has been muted, on-chain deposits of BTC to exchanges continue with more than 28,700 BTC, the largest inflow in over a month and a half, taking place on July 16th.

Bitcoin all-exchange inflow. Source: CryptoQuant

Inflows during times of consolidation and corrections are often seen as a negative developments as they can result in increased selling which can lead to a short-term price breakdown.

Glassnode also pointed to the net inflow of 1,780 BTC to over-the-counter (OTC) trading desks in the past two weeks as “moving against the structural trend of outflows in place since November 2020.”

Total Bitcoin balance held by OTC desks. Source: Glassnode

Glassnode said:

“It remains to be seen whether this net inflow is just a short-term impact, or the early signs of a reversal in the balance of supply and demand.”

Related: Institutions cautious as crypto products post weakest volume since October

Covid-19 concerns take their toll on the markets ag

The cryptocurrency market wasn’t the only market that faced downward pressure on July 19 as a surge in Covid-19 cases led to a pullback in global financial markets.

The S&P 500, DOW and NASDAQ all closed the day down 1.59%, 2.09% and 1.06% respectively.

Out of the top 200 cryptocurrencies, the only two notable performances of the day were a 24% gain for Bitcoin Standard Hashrate Token (BTCST) and a 17% rally from Dash (DASH).

Daily cryptocurrency market performance. Source: Coin360

The overall cryptocurrency market cap now stands at $1.245 trillion and Bitcoin’s dominance rate is 46.3%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Continue reading

$31.5K Bitcoin price on track for lowest weekly close of 2021

Performance remains grimly sideways on the day of the largest GBTC unlocking event.

Bitcoin (BTC) was on track to lose nearly $3,000 this week as a weekend of mixed price behavior came to an end.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Trader hopes for last-minute BTC price volatility 

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at just above $31,500 late Sunday — a potential -$2,800 weekly candle.

BTC/USD 1-week candle chart (Bitstamp). Source: TradingView

The weekend had produced little by way of surprises, with Bitcoin moving within a predictable range after seeing an initial brief spurt over $32,000 Friday.

Despite retaining $31,000 support and so far not retesting $30,000, Bitcoin was nonetheless on track to seal its lowest weekly close since December 2020.

While some traders and analysts expressed their lack of satisfaction with spot price action after two months of hovering in the same range, others were still mindful of potential disruption.

“Wouldn’t surprise me if we get a random move in the final 2-3 hours of this weekly candle on Bitcoin,” Michaël van de Poppe told Twitter followers.

Sunday marked the date of the largest in a series of unlockings at the Grayscale Bitcoin Trust ($GBTC). An event anticipated with nervousness by many, any obvious impact on price behavior had yet to be seen at the time of writing.

GBTC unlocking schedule. Source: Bybt

Altcoins set to lock in losses

Altcoins looked similarly lackluster on Sunday, with many of the top fifty cryptocurrencies by market cap lining up weekly losses akin to Bitcoin’s -8%.

Related: Bitcoin sees second-longest bull market drawdown with BTC price ‘stuck’ at $30K

Ether (ETH) hovered at $1,900, still clear of a support zone around $100 lower, while Amp (AMP) managed daily gains of 12%.

ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView

The overall cryptocurrency market cap stood at $1.294 trillion, with Bitcoin’s share at 45.9%, a touch lower versus Friday.

Continue reading

Bitcoin price falls under $33K, but on-chain data hints at BTC accumulation

Signs of BTC accumulation begin to emerge as the network’s hashrate rises and exchange outflows increase in July.

As the pressures placed on the market by China’s cryptocurrency crackdown begin to subside and the Bitcoin (BTC) hashrate starts to show signs of recovery, traders are now focused on how the price will be affected by this week’s unlocking of more than $550 million worth of Grayscale’s GBTC shares.

Data from Cointelegraph Markets Pro and TradingView shows that the early morning downtrend in BTC on July 12 continued into the afternoon as the price of BTC dropped below the $33,000 support level after bears took control of the market.

BTC/USDT 4-hour chart. Source: TradingView

Grayscale attracted further attention on Monday after various media reported that the firm has publicly filed three Form 10 registration statements with the United States Securities and Exchange Commission (SEC).

This brings the number of publicly reported trusts managed by Grayscale to five, with the trusts for Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC) joining the previously filed trusts for Bitcoin and Ether (ETH).

Bitcoin hashrate shows signs of recovery

China’s crackdown on Bitcoin mining resulted in a 55% decline in the network hashrate as BTC mines were shut down across the country and operations moved overseas.

According to a recent report from Glassnode, roughly 29% of the lost hashpower has now come back online as a result of Chinese miners successfully relocating hardware while “previously obsolete hardware has been dusted off and found a new lease on life.”

Bitcoin mean hash rate. Source: Glassnode

After nearly a month of selling from miners, the Miner Net Position Change metric now shows that they are back in accumulation mode indicating that “the sell-side pressure coming from offline miners is more than offset by accumulation by the operational miners.”

Further evidence for a decrease in selling can be found in the exchange flow data for BTC, which has seen a larger amount of BTC withdrawn from exchanges than deposited over the past two weeks.

Bitcoin all exchanges netflow. Source: CryptoQuant

As a result of the increased outflows, the amount of Bitcoin reserves held across all exchanges fell by more than 16,100 BTC between June 28 and July 11.

Bitcoin all exchange reserves. Source: CryptoQuant

From a macro perspective, many interpret this as a bullish development for Bitcoin as token holders appear to be withdrawing BTC to put into long-term storage as the market awaits the next significant move higher.

Related: Bitcoin dips below $33K as shorts spike, trader warns of ‘violent’ BTC price squeeze

Altcoins fall under pressure

Altcoins as a whole fell under pressure on Monday as the pullback in BTC led to weakness across the market.

Daily cryptocurrency market performance. Source: Coin360

As the sell-off intensified into the afternoon the price of Ether (ETH) fell to the $2,000 support level after traders rushed for the exits.

While the majority of the market was in the red for the day, there were several projects that managed to rise above the noise and post gains on July 12, with Metal (MTL) putting up a gain of 18% while Revain (REV), Stratis (STRAX) and Injective Protocol (INJ) gained 12%

The overall cryptocurrency market cap now stands at $1.354 trillion and Bitcoin’s dominance rate is 45.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Continue reading

Top 5 cryptocurrencies to watch this week: BTC, ETH, UNI, ICP, AAVE

Bitcoin may pick up momentum in the next few days and select altcoins ETH, UNI, ICP, and AAVE could also rally along.

In a recent CNBC survey of a group of portfolio managers and equity strategists, only 6% of respondents expect Bitcoin (BTC) to reach $60,000 in 2021. A large portion, 44% of the participants, predict Bitcoin to remain below $30,000 this year. From the remaining, 25% expect the recovery to reach $45,000 and the rest 25% anticipate a move to $55,000.

This suggests that the sentiment remains negative. However, the recent Chinese crackdown on crypto miners or the regulatory actions have failed to trigger the next leg of the downtrend in Bitcoin. This indicates that smart money is not panicking but bottom fishing on dips.

Analyst Willy Woo recently said in an interview on the What Bitcoin Did podcast that long-term holders who had sold their Bitcoin earlier this year are slowly accumulating at lower levels. Woo added that on-chain data suggests that Bitcoin is in recovery.

According to sources of news outlet The Street, Billionaire Steven Cohen’s hedge fund Point72 Asset Management is hunting for a “head of crypto” to enter the crypto sector. This suggests that institutional investors are viewing the current dip as an entry opportunity.

With crypto markets in a state of recovery, let’s study the charts of the top five cryptocurrencies that have a good shot at leading the relief rally.

BTC/USDT

Bitcoin has been consolidating between the $31,000 to $42,451.67 range for the past few days. After the bears failed to sustain the price below the support of the range on June 22 and 26, the bulls are currently attempting a recovery.

BTC/USDT daily chart. Source: TradingView

The bulls have pushed the price above the 20-day exponential moving average ($34,993) and will now attempt to drive the price above the 50-day simple moving average ($36,597). The positive divergence on the relative strength index indicates the bullish momentum may be picking up.

If buyers thrust the price above the 50-day SMA, the BTC/USDT pair could rally to the overhead resistance zone at $41,330 to $42,451.67. The bears are likely to defend this zone aggressively. If the price turns down from this resistance, the pair may extend its range-bound action for a few more days.

Contrary to this assumption, if the price turns down from the 50-day SMA and breaks below $32,700, the bears will again try to sink the pair below $31,000. If they succeed, the next stop could be the critical support at $28,000.

BTC/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows the formation of an ascending triangle pattern that will complete on a breakout and close above $36,670. If the bulls manage to pull it off, the pair could rally to $41,000 and then to the pattern target at $44,535.

On the contrary, if the price turns down from the current level or $36,670, the bears will try to sink the pair below the trendline of the triangle. If that happens, the bullish setup will be nullified and that could result in a drop to $32,700 and then $31,000.

ETH/USDT

Ether (ETH) broke above the 20-day EMA ($2.193) on June 30 but the bulls could not sustain the higher levels. The bears pulled the price back below the 20-day EMA on July 1 and tried to trap the aggressive bulls.

ETH/USDT daily chart. Source: TradingView

However, the strong rebound off $2,018.50 on July 2 suggests the sentiment has turned positive and traders are accumulating on dips. The bulls pushed the price back above the 20-day EMA on July 3.

The 20-day EMA has flattened out and the RSI is attempting to rise above 52, indicating the momentum is turning positive. The ETH/USDT pair could rally to the downtrend line where the bears may attempt to stall the up-move.

But if the momentum continues and the bulls propel the price above the downtrend line, the pair could rise to $2,990.05. This positive view will invalidate if the pair turns down from the 50-day SMA ($2,437) and breaks the $2,000 support.

ETH/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows an inverse head and shoulders pattern that has completed on a breakout and close above $2,280. This bullish setup has a target objective of $2,860. The rising moving averages and the RSI near the overbought zone suggest that buyers are in control.

Contrary to this assumption, if the pair plummets back below $2,280, it will suggest that bears have not yet given up and they are trying to trap the aggressive bulls. A break below $2,000 may again shift the advantage back in favor of the bears. The pair could then retest the critical support at $1,728.74.

UNI/USDT

Uniswap (UNI) rebounded off $13 on June 22 and has risen above the 20-day EMA ($19.50), for the first time since June 4, which is a positive sign. The 20-day EMA has flattened out and the RSI has risen to the midpoint, indicating that sellers are losing their grip.

UNI/USDT daily chart. Source: TradingView

The UNI/USDT pair could now rise to the 50-day SMA ($22.99) where the bears are again likely to mount a stiff resistance. However, if the bulls can arrest the next decline at the 20-day EMA, it will suggest a change in sentiment from sell on rallies to buy on dips.

That will enhance the prospects of a break above the 50-day SMA. If that happens, the pair may start its journey to the overhead resistance at $30. On the contrary, if the price turns down and breaks below $16.93, the bears may again pull the pair down to $13.

UNI/USDT 4-hour chart. Source: TradingView

The moving averages have completed a bullish crossover and the RSI is near the overbought territory, implying that the bulls have the upper hand in the short term. If the buyers drive the price above the overhead resistance at $21, the pair could pick up momentum and rally to $25 and then to $27.

On the other hand, if the price breaks below the 20-EMA, the next major support to watch on the downside is $17. A break below it will suggest that traders continue to short at higher levels. The pair may then drop to $15.

ICP/USDT

After a massive fall from $497.19 to $28.31, Internet Computer (ICP) is attempting to form a bottom. The 20-day EMA ($53) is flattening out and the RSI is attempting to recover from deeply oversold levels, indicating that selling pressure is reducing.

ICP/USDT daily chart. Source: TradingView

If bulls push the price above $60, the ICP/USDT pair will complete a 1-2-3 bottom formation. The pair could then rally to $72.61. Subsequently, if bulls arrest the next decline above the 20-day EMA, it will suggest that a new uptrend has started.

Contrary to this assumption, if the price turns down from the current level and plummets below $41.44, the bears will attempt to sink the pair to the all-time low at $28.31. A break below this support could extend the downtrend.

ICP/USDT 4-hour chart. Source: TradingView

The moving averages have completed a bullish crossover and the RSI is in the positive territory on the 4-hour chart, suggesting the bulls are back in the game. However, the bears are unlikely to give up easily and are defending $52.

If the price turns down from the current level but rebounds off the moving averages, it will suggest accumulation at lower levels. The bulls will then again try to thrust the price above $52 and then $60.

If they succeed, the pair may begin a new uptrend. Contrary to this assumption, if the price plummets below $40, the pair may retest the all-time low.

Related: Altcoin Roundup: Smart investors don’t just buy dips, they dollar-cost average

AAVE/USDT

Aave broke above the downtrend line on June 29, indicating that the negative momentum was weakening. The bears tried to stall the recovery at the 20-day EMA ($252) but could not sink the price back below the downtrend line. This suggests buying at lower levels.

AAVE/USDT daily chart. Source: TradingView

The bulls have propelled the price above the 20-day EMA on July 3, indicating a possible change in trend. The bears may attempt to flip the previous support at $280 into resistance but if the bulls do not allow the price to dip below $215.62, the possibility of a break above the overhead resistance is high.

That will open the gates for a rally to the 50-day SMA ($321) and then $400. The flattening 20-day EMA and the RSI near the midpoint signals that bulls are attempting to make a comeback. This positive view will invalidate if the AAVE/USDT pair turns down from the current level and plummets below $215.62. That could result in a retest of the June 22 low at $170.10.

AAVE/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows a rounding bottom formation that will complete on a breakout and close above the overhead resistance at $280. This reversal setup has a target objective at $389.90 but it may not be an easy ride higher as the bears will try to stall the rally at $340.

Both moving averages have turned up and the RSI is in the positive territory, indicating advantage to the bulls. If the price turns down from the current level but rebounds off the moving averages, it will suggest that the sentiment has turned positive and buyers are accumulating on dips. This assumption will invalidate on a breakdown and close below $215.62.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Continue reading