Bitcoin remains in tight space. On the other hand, some altcoins can rise, of course, if they can get support from their key points.
>
Digital Assets Data CEO Mike Alfred, talked about Bitcoin and altcoins. According to Mike Alfred: While Bitcoin struggled to show a sustainable uptrend last week, some altcoins in the DeFi space were observed to have strong bullish trends. He believes it will surpass Bitcoin.
Many analysts expect a bullish trend in the cryptocurrency space in the long term, but what happens in the short term, in the next few days Let’s see what to expect, let’s see together.
Here are the coins we want to keep your eye on these coins all week.
BTC/USD
Bitcoin, 10,500 Closing above the dollar, it completed the inverted shoulder head-to-shoulder pattern of the uptrend on July 27.
In ideal conditions, the price should not fall below the neckline in the inverted head-to-shoulder pattern.
In contrast, bears BTC/ They brought the USD below the neckline on Sept. 3. It was bought at this level, but failed to push BTC above the 10,500 levels.
Currently, BTC seems to be stuck in the $9,835-10.625 range. The bears and bulls are unable to push the price beyond these levels.
From the 4-hour chart, the bears are seriously defending the 10,625 point.. But if they cannot lower the price below 10.200; the bulls may manage to break through the top resistance.
If the bulls succeed in doing this, with the aggressive traders stepping in, BTC spikes to $11,400 and can sail towards $12,000 from there.
The reverse happens. , if the bears prevail, we could see $10,000 and $9,835 again.
BNB/USD
Biance Coin (BNB) bullish continues. Currently at the peak of 52 weeks. Although the relative strength index is bearish, the sharp move on Sept. 12 destroyed the bearish pressure.
BNBUSD is currently $29.99 (at the time of writing) if the bulls do not allow the price to drop below the $27,190 level, a retest of $32 could be made. The price may force $38.
If it is in an upside down situation; If the bears can push the price below the $27.19 level, it means that the current order is in a bull trap.. The important sign is that the bulls continue to buy bottoms without panicking.
NEO/USD
Bears are trading NEO at $16.72 tried to push it below the level. When this situation gave the bulls a buying opportunity, the price went up to $21.97.
The bears will aggressively defend the 22-22.82 levels.. However, if NEO/USD bounces back from the 20-day EMA (18.54), the bulls may start to print again.
If the bulls succeed; means the second leg of the upward movement has begun. $25.23 resistance can be seen but momentum will surpass it.
If the bears pull the price below the EMA, NEOUSD could drop to $16.72. Closing below this point would be very negative.
YFI/USD
Yearn.finance (YFI) starting 31st August The correction found support near $21.34.. This level represents 50% of the Fibonacci retracement of the $3-339 rise.
The bears tried to push the $21.34 level down.. They failed, but the squeeze between September 5 and 8 gave the impression that bulls and bears were also undecided.. The next leg of the rise will be at $46.63 and $50.
However, the bears are trying to stop the rally at $43.96. If they can sink the YFIUSD pair below the 50% Fibonacci retracement level of the latest leg of the rally to $31.01, the momentum is likely to weaken.
The developing bearish trend in the RSI calls for caution. However, if the pair bounces back from the $34.06-31.01 support zone, the bulls may make another attempt to resume the uptrend.
The bears pulled the pair below the 20-EMA, suggesting that the short-term momentum is weakening.. The next support will be at $31.01.
If the pair rises sharply from $31.01, the bulls will work to push the price above $43.96.
LINK/USD
Chainlink (LINK) has bounced back three times since Sept. 6 at $13.28. But the positive sign is that the bears failed to push the price below the trendline.. This indicates that purchases are made at low levels.
LINKUSD bulls will again probe the $13.28 level.. If they are successful, the pair may accelerate to the point where it entered a downtrend.
This level is likely to act as a resistance as well, but the bulls may continue to push, which could push the price up to $17.77.
However, if the bears are successful and can push the price below the trend, the price may drop as low as $8.90 as confidence issues will arise.
The 4-hour chart shows the bears fiercely defending the $13.28 point.. However, the positive sign is that the bulls have not let the price drop below the $11 level.
If the pair retraces from current levels or the trendline, the bulls may make another attempt to push the price above the $13.28 resistance.. If they are successful, the momentum may increase and a quick move to $15 is likely.
If the bears manage to lower the price below the trendline and hold it there, bullish theories will also fail.
Keep your eye on these coins. This is the state of things we call. We will continue to follow up throughout the week.
What is crypto and how to buy it?
Expert comment: DeFi coin opportunity comes every 10 years
Source
Click for more