This is a daily analysis of the Coendesk analyst and rented market technician Omkar Godbole.
The key story on Tuesday morning focuses on BTC/USD, which represents the price called Bitcoin dollars, and the Dogoin-bitcoin that is quoted in Binance (Doge/BTC) Combine, both run to secure upstart and inverse shoulder sprouts in their graphics per hour.
A confirmed break in Bitcoin could prepare the stage for a new test of the level of $ 120,000, a scenario discussed on Monday. Similarly, a potential rupture in Doge/BTC could indicate a remarkable higher performance for Dogecoin ahead.
But the key question remains: will these outbreaks materialize? The technical image is compatible with bulls, with simple mobile averages of 50, 100 and 200 hours realizing in a real way. Add to that the strong feeling of the market driven by the growing expectations of the Fed rates cuts next week and beyond, a catalyst that probably drives the rotation of retail funds of the money of the money market and in Bitcoin and Altcoins.
Doge has an additional bullish wind: the ETF waits.
XRP: Macd Flips Bullish
XRP quickly approaches the upper limit of a descending triangle pattern almost two months long, delineated by trend lines that connect the maximums of July 18 and August 14 together with the Altos on August 3 and September 1.
A decisive rupture above this formation would indicate a broader resumption, racing the way for a demonstration to $ 3.38, the maximum of August, and potentially $ 3.65, the peak reached in July.
The technical configuration is promising. The elaboration of positive feeling in the Bitcoin market, along with a positive crossover in the XRP Diary Histogram, improves the probability of a successful outbreak of the descending triangle. The positive crossover of the MACD indicates a renewed bullish change in the impulse.
The bears need a fall below $ 2.67 to restore the bearish trend.
Sun: 61.8% fib setback probes
Solarium It is in a tendency to the north, marked by a series of higher and higher minimums that underline an upward trajectory. The perspective is further strengthened by simple mobile averages of 50, 100 and 200 days, painting an encouraging technical image. When writing, Sol seems to be ready to exceed 61.8% of Fibonacci recoil of the sale of January for the sale of April.
A movement above this key level of “gold relationship” could attract impulse buyers, potentially driving sun to test the resistance zone between $ 260 and $ 280.
