Welcome to our CryptoMonday weekly review of calendar week 12. As usual there was a lot to report this week and so it is not surprising that we can come up with a whole range of interesting news again.
Our topics this week revolved around the Bitcoin price and the different moods in the market, about the Ethereum price and a chart pattern threatening it, Ripple with a possible comeback & a Cardano price forecast for this year. We also provide you with a fresh Bitcoin price analysis and an outlook for the coming week.
And of course that was far from all! But we don’t want to reveal more at this point. Have fun with our CryptoMonday weekly review!
Let us know afterwards What were the most exciting or significant events for you this week and discuss them with ours Community on Telegram.
Bitcoin course analysis & outlook
After the bearish divergence in both the RSI and MACD indicators had developed this week, there was little doubt that the Bitcoin price will correct itself. The short-term chart pattern in the form of the diamond top was a kind of early warning system, which ultimately led to a bearish breakout of the medium-term chart pattern in the form of a rising wedge.
While the price target resulting from the breakout of the rising wedge suggests approaching $ 43,500, the latest low of the medium-term uptrend, it would appear that the BTC bulls have between $ 48,000 and 52,000 with the help of the support zone $ can already avert worse. In the last 24 hours alone, the price of Bitcoin (BTC) rose again by 2.2%. But it is still too early for any form of anticipation, because the short-term downward trend is still in tact.
It is important to pay attention to this with the Bitcoin course
While the medium-term trend of Bitcoin (BTC) is still in an upward trend, this week’s price actions have caused the short-term trend to reverse and become bearish. In the next few days, it is important to pay particular attention to whether something will change in the Bitcoin price and its short-term trend (<6 weeks). The most basic thing to do here is to look at the recent low and high of the short-term trend.
As the figure above illustrates, the last high of the short-term trend is $ 56,612 and the last low is a good $ 51,000. Should the Bitcoin price manage to exceed the last high again, we can assume that the short-term trend has reversed again and is again bullish. However, if the Bitcoin price falls below the last low, that would definitely be a clearly bearish indicator in the short term.
However, the increasingly spaced highs and lows suggest that this is a structure that can be observed in an upside-down falling wedge formation, which basically occurs at higher time units, but suggests a bullish dissolution of this price structure. Accordingly, the Bitcoin price could also expect a renewed test of the current resistance zone between $ 57,370 and $ 59,500 in the coming days.
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Bitcoin Bullrun in its final stages and why a return to $ 23,000 is a likely scenario
Glassnode, which specializes in crypto-analytics, has found that several indicators suggest that the Bitcoin bulls must slowly but surely gallop to retreat.
The analytics platform reported that the current on-chain indicators suggest that the Bitcoin bull market could move into its end-of-life phase. In addition, the Bitcoin course still has an unfinished business like a gloomy shadow on its neck. You can find out what all of this means in this article.
Ripple course tries its comeback, while 750 million XRP are postponed & Larsen continues to sell XRP despite legal action
The Whale Alert Crypto Tracker sounded the alarm after Ripple Fintech Decacorn made two transactions on the XRP Ledger in the past eight hours, moving a total of 746 million XRP tokens. Meanwhile, the Ripple price has risen to $ 0.55 and shows ambitions to aim even higher.
Reason enough to take a closer look at the situation at Ripple and XRP. Learn more.
Bitcoin course of $ 80,000 in late April seems to be the target for most options traders
A little further above, we have already read that some traders on the market are considering a major correction for the Bitcoin price. But now we also want to let some optimistic voices on the market have their say.
Options traders are bullish and bet that the Bitcoin price will rise above $ 80,000 by the end of April. In this article, we will shed light on how likely analysis data really is as a result of this scenario.
Ethereum price forecast: For this reason, ETH threatens to crash below $ 1,000
Is the Ethereum course on the verge of a major crash? It is precisely this exciting question that we pursued in this analysis by ETH.
Ethereum (ETH) has not had it easy lately. Due to the high gas prices, the leading smart contract platform had to take a lot of criticism and gave competitions an enormous amount of room to grow. This fact is of course also reflected in the Ethereum price, which has not yet reached its parabolic rise compared to other crypto currencies.
As if that weren’t enough, a current chart pattern is fueling fears that the big crash is yet to come for the Ethereum price. The big question that arises from this is: Do we soon see an ETH price below $ 1,000? You will find the answer to this in this Ethereum forecast.
Cardano Price Prediction 2021: This pattern promises an ADA price of $ 2.60 or more
In our Cardano price forecast 2021 we talk about a chart pattern that ADA has developed against the US dollar over the last 3 years. The special thing about it is that it will probably break out in the next few weeks and give us a foretaste of where the next upward rally could take the Cardano course.
Will the ADA price double this year?
A question that certainly needs an answer. In this Cardano price forecast, we therefore provide you with a specific goal for the year 2021 and tell you what to look out for in the next few weeks and months.
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