Bitcoin, IOTA, XRP

Bitcoin (BTC)

Bitcoin has been trading sideways for the past 24-hours. However, in this directionless market, Bitcoin (BTC) is facing key resistance on the 200-day MA at $3651.3. It has tested this price level two times and has failed to push above it. If it fails for the third time, chances are that it would be headed lower. That’s because, it would be an indicator that bearish sentiment is strong, even though overall volumes are low. Therefore, if Bitcoin tests $3651.3 and fails, then pushes below the day’s low of $3579.4, it would be a signal to go short with a target of $3462.4. This is a 5-day low, and a key support level for Bitcoin (BTC) in the next 24-hours. If it breaches it, then it could test $3200, which is a long-term support level for Bitcoin (BTC) on the weekly 200-day MA.

However, in the event that Bitcoin (BTC) gains bullish sentiment, and pushes above the 1-hour 200-day MA at $3651.3, it would be an indicator of increased bullish sentiment. To go long on Bitcoin (BTC), it would be best to wait for more bullish volumes to push Bitcoin (BTC) above the 4-day high of $3681.2. This would be a signal to go long on Bitcoin (BTC) with a target of $3770.2. This is a key resistance point for Bitcoin (BTC) in the day.

IOTA (MIOTA)

IOTA (MIOTA) has been on a downtrend for the past 5-days. In this period, it has dropped from a high of $0.314 to a low of $0.285. Selling volumes are also high, an indicator that bears are strong in this market. To go short on IOTA (MIOTA), it would be best to wait for a break below the day’s low of $0.285. This would be confirmation of bearish sentiment. Such a position would have a good exit point at $0.214. This is a key support level for IOTA (MIOTA) on the 12-hour chart.

However, in the event that IOTA (MIOTA) gains upside momentum and pushes above the 1-hour 200-day MA at $0.305 and extends above the 5-day high of $0.314, it would be a trigger to go long with a target of $0.362. This is a key resistance point at $0.362 on the 12-hour 200-day MA.

XRP (XRP)

XRP (XRP) has been on a downtrend for the past 48-hours. In this period, it has dropped from a high of $0.326 to a low of $0.314. However, in the last 12-hours, it has been trading in a range between $0.319 and $0.317. Volumes too are low indicating that bearish sentiment is strong. To go short on XRP (XRP), it would be best to wait for a break below the day’s low of $0.314. This would be a signal to go short with a target of $0.290. This is a key support level for XRP (XRP) on the 12-hour chart.

However, in the event that XRP (XRP) gains bullish momentum and pushes above the 200-day MA at $0.325, it would be a trigger to go long with a target of $0.346. This is a key resistance point for XRP (XRP) on 6-hour 200-day MA.

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