Crypto Update: A Breakout Soon Expected
Bitcoin Price BTC/USD.
From yesterday’s open when the price of Bitcoin was $3688 at the open the price hasn’t changed much as its only 0.26% lower and is sitting at $3679.
Looking at the hourly chart, we can see that the price has fallen today for interaction with the minor descending channel support line but it was only a quick spike as the price immediately came up above the 0.382 Fibonacci level.
As the price is still inside the descending range we are still seeing a struggle between buyers and the sellers so a breakout is soon to be expected but the direction of a breakout is still unclear.
Considering the context – the price has increased previously with strong momentum and is currently hovering below the descending channel’s resistance which mean that the buyers are still putting pressure, a breakout to the upside looks more likely.
The price of 0x has come down to my long projected target which you can see on the 4-hour chart below.
Now that this has come to an end and we have seen further depreciation the Y wave from the Cycle count looks like it ended which is why recovery for the price of ZRX is soon to be expected.
Currently, the price is sitting at $0.236 level which is a higher low compared to the previous one at around $0.22 soo the expected recovery might already start, but we are going to be awaiting the confirmation in a form of another higher high compared to the previous one at $0.26.
Nikola Lazi’s original article for blockonomi.com reduced by 55%
Related cryptocurrency news – Traders Who Shorted Bitcoin From All-Time High $20,000 Are Cashing Out: Is The Bottom Near
Support Our WorkWhy support us? We work 24/7 to provide simple summaries of the latest cryptocurrency news and developments from across the web. Crypto-News-TLDR relies entirely on contributions from readers to stay independent. BTC ETH XMR IOTA AION Alternatively, support us by using the following referral links: Exchange: Binance | Hardware Wallet: Ledger Browser: Brave | Free Bitcoin: Coinbase
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send some Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send some Ethereum
Donate With MetaMask
Donate ETH Via PAY With Metamask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.