After a rebound on March 16, the U. S. stock market fell again on March 17. Investors remain concerned about the vulnerability of US and European banks. For cryptocurrency investors, the glimmer of hope is that BTC is still pegged to the stock market and has risen to its highest level since Jan. 12.
Michael Novogratz, CEO of Star data founder, told CNBC that the United States and international could face a credit crunch as financial institutions reduce lending to rebuild assets. He pointed out that investors should open more bitcoins and data encryption, because that is the period of the rise of bitcoin.
Quantitative tightening seems to have led to a period of quantitative easing. Such financial institutions are gradually borrowing $150 billion from Fed meetings, more than they did during the 2008 financial crisis.
Analysts point out that the Fed meeting boosted its balance sheet by $300 billion in a week, only the $500 billion it added after its collapse in March 2020. Quantitative easing in 2020 triggered a rebound in Bitcoin, rising from about $4000 to $69000.
Will history repeat itself? Can Bitcoin and alternative coins maintain higher standards? Let's take a look at the data charts of the top ten cryptocurrencies to find out.
Bitcoin double buying fell to $24000 on March 15, and pushed the price above the strong pressure level of $25250 on March 17. This implements a reverse head-shoulder (Houses) layout.
There is no significant friction between the current level and $32000 in itself, so the duo will find it very easy to break this gap in the short term. Short orders are likely to generate strong defenses at $32000, so if the pair breaks this point, the BTC/USDT pair is likely to extend its growth trend to the overall structural target of $35024.
The rising 20-day index moving average ($23298) and the relative strength index (RSI) around the overbought area indicate that the double head is dominant.
If short orders need to regain control, he will be forced to reverse direction quickly, causing these foreign exchange currencies to fall below the moving average. Until then, gainers are likely to see the stock market slump as a buying opportunity.
ETH rebounded from its mobile moving average on March 16, indicating that traders have bought bargain-hunting.
Double head will strive to promote and maintain the friction resistance area where gold prices rise by $1743 to $1780. If they succeed, the ETH/USDT pair is likely to speed up the critical mental state threshold of $2000. This is also the last hurdle, and if it is raised, the foreign exchange currency will mean the gradual rise of a potential market.
There are likely to be other options for empty bills. He will try to stop the rally in the area above his head and pull the foreign exchange currency below the moving average. This could bring the aggressive double to a dead end, after which the foreign exchange currency could plummet to $1461.
The long tail on BNB's candlestick on March 15 shows that the duo has bought a 20-day moving average ($302) lower. It marks a change in the hot plate, from selling high to buying bargain.
On March 17th, gold prices rebounded and soared above the pressure level of $318.
Customers are trying to further strengthen their position by raising the price to more than $338. If they do so, the negative hacks approach will fail. The BNB/USDT foreign exchange currency is likely to rebound to $360 at first and then to $400.
On the harmful side, falling below the 20-day moving average will show that the empty order is back in the driver's seat.
XRP (XRP) has been finishing horizontally within the narrow range between the 50-day simple moving average (SMA) ($0.38) and the $0.36 support line.
Generally speaking, after a small transaction, uncertainty also increases. Duo will try to push the price above the 50-day moving average. If they can achieve this, it will mean the beginning of a stronger recovery to $0.42. This level is likely to become a strong friction resistance again, but if it goes up, the increase is likely to reach $0.51.
If the price of gold turns down and falls below $0.36, this good news will be invalid for a short time. Subsequently, the foreign exchange currency could fall to a strong support point between US $0.32 and US $0.30.
Cardano's ADA (ADA) sits between the 50-day moving average ($0.36) and the strong support line of $0.29. Duo tried to push the price above the 20-day moving average ($0.34).
If they succeed in doing this, the ADA/USDT pair is likely to climb to 50 days SMA. This level is likely to attract businesses who are trying to postpone recovery. If prices fall sharply from this level, segment changes are likely to continue for some time.
Or, if the double pushes the price above the 50-day moving average, the foreign exchange currency is likely to rebound to the level of morphological resistance that is opposite to Hstocks. This is a major level that deserves a lot of attention, as the rise and close is likely to mark the beginning of a new uptrend.
Dogecoin (Doge) rebounded from the level of $0. 07 and reached the downward trend line. This means that double heads are buying when they fall slightly.
Breaking through and closing above the downward trend line is undoubtedly the first sign that the adjustment is likely to be over. The 50-day moving average ($0.08) will become a friction resistance, but it is likely to be raised. Subsequently, the dollar is likely to gradually rebound to $0.09 and then rise to $0.10.
It is expected that merchants will do their best to defend the $0.10-$0.11 area, as the promotion of this area is also likely to jump back to $0.16 to open the door. The downside is that falling below the support line of $0.07 will cause the advantages to skew to the short side again.
Polygon's Ma Jiqi (Ma Jiqi) gradually increased from $1.07 on March 15, indicating that Shuangtou is trying to turn the $1.05 level into a support line.
The 20-day average (US $1.16) has leveled off, with RSI close to the midpoint of the exchange rate, indicating the balance between supply and demand. If the duo promotes the gold price to raise its 50-day moving average ($1.22), the Marjic / USD pair is likely to accelerate the trend and rebound to $1.30. This barrier may only be a small obstacle, but it is likely to be surpassed. The next stop is likely to be $1.42.
On the other hand, if the price falls sharply in the 50-day moving average, it will indicate that the empty order will continue to be sold during the rebound. Subsequently, the foreign exchange currency is likely to fluctuate for some time between the 50-day daily moving average and $1.05.
Solana's Sol rebounded from $18.70 on March 16, suggesting that duo did not wait for a deeper decline to buy.
The reassuring increase has reached the moving average, which may constitute strong friction resistance. If the price turns down and falls below $18.70, it will indicate that the SOL/USDT pair is likely to maintain a 50-day SMA ($22.21) to $15.28 range for a period of time.
After the double head pushes the price above the downward trend line, the foreign exchange currency will indicate an implicit shift in the development trend. It could open a rebound, rising to $27.12.
On March 15th, Polkadot's DOT (DOT) plummeted below its 20-day moving average ($6.09), but short orders could not remain moderate. Customers bought lower and pushed prices back above the 20-day daily moving average on March 16th.
ShuangTou is trying to use its strengths to push prices above the 50-day moving average ($6.41). If that level is expanded, the DOT/USDT is likely to rise to $6.85 against the 61.8% Fibonacci backstop.
This level should once again become a strong friction resistance, and if the double head flips the moving average to the support line during the next adjustment, it will show that the double head has bought at a low price. This will increase the probability that the pair will produce an inverse Hans pattern design.
Conversely, if the price falls again from the 50-day daily moving average and falls below the 20-day daily average, it will mean several months of ups and downs.
The Akita Dog (Shib) rebounded from the $0.000010 support line on March 16, indicating that the two heads are trying to flip gradually.
In the area between the 20-day moving average ($0.000011) and the downward trend line of the decline channel, there is a return to frictional resistance. The short order will try again to lower the price below the support line of $0.000010. If they succeed, the SHIB/USDT pair is likely to slip into the safe channel support.
Conversely, if the double head pushes the price up to the safe channel, it will indicate that the adjustment process is likely to be over. The 50-day moving average ($0.000012) may also constitute hard friction, but if you raise that level, the Shibu / dollar is likely to climb to $0.000014 and then to $0.000016.
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