Bitcoin hit a record high of $ 67,000 on October 20, but the bulls couldn’t keep it high as the bears pushed it below $ 64,854 on October 21. This suggests that the bears tried to trap the aggressive bulls.
The bears tried to start rising on October 22, but candlestick long-legged beards suggest that traders sold for a temporary recovery.Strong support during the downturn is the 20-day moving average (EMA) of $ 57,778.
If prices rebound from this support, sentiment remains positive, indicating that traders are making a bargain.This will increase the likelihood of crossing the resistance zone directly above between $ 64,854 and $ 67,000. If that happens, BTCWill rise to $ 75,000.
On the other hand, if prices fall below the 20-day EMA, selling could accelerate and BTC could fall to the 50-day simple moving average (SMA) of $ 50,496.
ETH / USDT
Ether surpassed the $ 4,027.88 resistance on October 20th. After that, it continued to rise on October 21, and the ETH price rose to $ 4,375, slightly above the record high of $ 4,372.72.
However, price movements on October 21 indicate that traders may have aggressively sold near record highs.The bears are trying to keep prices below $ 4,027.88.
The rising 20-day EMA ($ 3,712) and the Relative Strength Index (RSI) in the positive territory show that the bulls continue to take the lead. ETHIf prices rebound from current levels, bulls will try again to push ETH to record highs.
Closing below the neckline of the Reverse Head & Shoulder (H & S) pattern would start a deeper adjustment to $ 3,200.
XRP / USDT
Ripple (XRP) Fell off the downtrend line on October 21st. It shows that the bears are actively resisting this level.Bulls are trying to keep the XRP price above the moving average.
If prices rebound from current levels, bulls will once again try to push XRP above the downtrend line.If that happens, XRP will rise to $ 1.41.If this resistance can be overcome, the XRP price could rise to $ 1.66.
The flat moving averages and the RSI near the middle suggest that the XRP has been in the range for several days.If the price closes below $ 1, it could drop to strong support at $ 0.85.
Translation / Editing Cointelegraph Japan
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