Crypto Market Analysis - July 23th

 2020-07-23 06:45:52

Bexplus


Bexplus


With the second short-term rebound of BTC, the rise of mainstream coins continued to expand, causing the market value of BTC to fall back to 62.6%. Therefore, it can be seen that BTC is at a critical change point. Not only is BTC reaching the resistance level of $9,542, but also because of the possibility of a further rise in market capitalization.

At the point, BTC is below $9,542, operating in the area below the 38.2% Fibonacci dividing line. The inventory of this change is very important for BTC's expansion. If it can break through 9,542 US dollars, the recent sustained rise will become possible. Investors who pay attention to the price pattern of BTC can see that the current short-term pattern of BTC is similar to the performance of a double arc bottom. Therefore, in the process of confirming the double bottom reversal, the price must also reach more than $9,500.

For ETH, the price increase reached 7.4%, which had a better effect on the breakthrough of the pressure level, which is a trading signal to continue to be bullish. Looking back at the adjustment process of ETH, it has entered a state of sideways adjustment since June 1, but it has not fallen below the 60-day moving average during the period, so there is more room for growth after breaking away from short-term pressure. After the sideways break through the pressure of $245, the short-term target is at least $288.

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