Bitcoin (BTC / USD) analysis
Bitcoin soars due to ease of attack after Federal Reserve rate hike
After the Federal Reserve’s monetary policy, Bitcoin has recovered above $ 40,000. The central bank raised interest rates by 50 basis points and reduced asset purchase programs. Demand for higher-risk assets has increased because the federal government was less aggressive than expected.
Daytime trends- neutral
On the daily chart, the pair trades above the front ($ 39,100), below the Kijun line ($ 40,425) and below the first equilibrium table ($ 41,279). Bitcoin reached a daytime high of $ 39,002 and is currently trading at around $ 38,882.
Key support is seen at $ 37,000, and any violations below that level can result in a pair of $ 34,000 / $ 30,000.
Immediate resistance is around $ 40,800, and over-level violations can reach $ 41,700 / $ 42,500 / $ 42,978 (April 21 highs) / $ 43,500.
A possible strategy is to sell the rally for about $ 40,000, SL for about $ 43,000, and TP for about $ 30,000.
Daily outlook for ETH / USD
Ethereum has broken the resistance of the minor trend line and has followed in the footsteps of Bitcoin to maintain more than $ 2,900. It hit a high of $ 2,917 at the time of writing and is currently trading at around $ 2,926.
On the 4-hour chart, the pair is trading under the Tenken Line ($ 2,861), Kishun Line ($ 2,843) and Ichimoku Equilibrium Table ($ 2,817).
Key support is seen at $ 2,880, and the following violations could drag a pair to $ 2,800 / $ 2,700 / $ 2,650.
Immediate resistance is approximately $ 29,75 (200 -4H EMA). The break above makes the pair $ 3,045 / $ 3,179 / $ 3,275.
A possible option is to buy a SL of about $ 2,700 for a dip of about $ 2,850 if the TP is $ 3,450.
XRP / USD outlook
Daytime trends- Bearish
Key support-$ 0.70, $ 0.50
Key Resistance-$ 0.8,000, $ 0.9150
The price of XRP was on par with some of the profits made yesterday. The pair’s daytime trend is bearish as long as the $ 0.65 resistance continues. Closes above $ 0.650 could make the pair $ 0.7250 / $ 0.800 and are currently trading at around $ 0.63756. A short-term trend reversal will only occur if the price exceeds $ 0.9200.
A possible strategy is to sell for about $ 0.6800 in a rally of about $ 0.7500 for SL if the TP is $ 0.55.
BNB / USD outlook
Daytime trends- Bearish
Key Support-$ 390, $ 360
Key Resistance-$ 432
BNBUSD has recovered more than $ 400 in bright market sentiment. Violations over $ 411 confirm the bullishness of the day. It is possible to jump to $ 431/460 and is currently trading at around $ 390. A short-term trend reversal will only occur if it exceeds $ 506.
Possible options are if the TP is $ 435 / $ 440, the SL is around $ 379 and a dip of around $ 390-92 can be long.
Bitcoin support / resistance
R1- $ 40800, R2- $ 41700, R3- $ 43,000
S1- $ 37,000, S2- $ 34,000, S3- $ 30,000
Ethereum Support / Resistance
R1- $ 2,975, R2- $ 3,045, R3- $ 3,179
S1- $ 2,800, S2- $ 2,690, S3- $ 2,495
News from other places
See more details on the Newsweek Cryptocurrency Index:
The content of this article is for informational purposes only and does not constitute financial or investment advice. Before making an investment decision, it is important to consider conducting your own research and seeking advice from an independent financial expert.