FxWirePro- Bitcoin Predictions

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Menu Search Menu Search Cryptocurrency: SpaceX plans to accept Dogecoin crypto payments for merchandise Blockchain Glossary for beginners- Hard Fork Vs Soft Fork FxWirePro: Daily Commodity Tracker – 20th June, 2022 FxWirePro- Top altcoins for the day (Strength index)(ZILUSD and COMPUSD) FxWirePro- Top altcoins for the day (Strength index)(XTZUSD and LINKUSD) FxWirePro- Major pair levels…

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Cryptocurrency: SpaceX plans to accept Dogecoin crypto payments for merchandise

Blockchain Glossary for beginners- Hard Fork Vs Soft Fork

FxWirePro: Daily Commodity Tracker – 20th June, 2022

FxWirePro- Top altcoins for the day (Strength index)(ZILUSD and COMPUSD)

FxWirePro- Top altcoins for the day (Strength index)(XTZUSD and LINKUSD)

FxWirePro- Major pair levels and bias summary

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FxWirePro- Top altcoins for the day (Strength index)(XTZUSD and LINKUSD)

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FxWirePro- Bitcoin Predictions

BTCUSD regained above $20000 on short covering.The pair crashed sharply and lost more than 74% from an all-time high of $69000.A hawkish aggressive rate hike by the fed and surging inflation dragging the riskier assets like BTC and stocks.It hits a high of $21462 and currently trading around $21221.

Factors to watch for Bitcoin price action-

US markets –

NASDAQ (positive correlation with BTC)- Mixed (neutral for BTC).The index has taken support near 200-W MA) and showed a minor pullback.

Any break above 11700 will take 12195/12500.

US bond yields (Bullish)- Negative for BTC.US 10-year yield cooled off slightly after hitting four years high.

Technicals-

Major support- $20000.Any break below will bring an end to the bullish trend, a dip to $15000/$10000 is possible.

In the daily chart RSI (14)- 20.36 (Oversold on Jun 18th, 2022).

Any decline can be used as an opportunity to buy.

Bull case-

Primary supply zone -$22000.

The breach above confirms minor bullishness.A jump to the next level of $23000/$24850/$25400/$27000 is possible.

Secondary barrier- $32500.A violation above that barrier targets $37000/$40000.

It is good to buy on dips around $20000 with SL around $17000 for TP of $30000.

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