Billionaire investor Stanley Druckenmiller was the last big name to open a Bitcoin center. Although Druckenmiller did not say how much he bought, he said that Bitcoins would be much better than gold “because they are thinner, more liquid and have a lot of beta.”
Paul Tudor Jones, Stanley Draxmiller and Bill Miller are among the most successful Wall Street traders and investors. The approval mark is likely to attract many other investors who may wish to diversify their portfolio and outpace the markets.
To further validate the cryptocurrency, controversial Australian politician Corey Bernardi called Bitcoin (BTC) the “Gold Edition of the Millennium”. While Bernardi said the risk remains, he believes it is similar to the risks in other asset classes.
Alex Saunders, founder of Cryptocurrency Nuggets News, sees VIP support for cryptocurrencies as a sign of changing times, and earlier this week an analyst predicted that Bitcoin would reach $ 1 million by 2030
Those big points are the long-term benefits of cryptocurrencies. But let’s break down the top 10 cryptocurrency cards to find the least resistance path in the short term.
Bitcoin / USD
Bitcoin (BTC) formed a candlestick pattern during November 10 that did not show decision between bulls and the bears. The uncertainty about growth was eliminated today as the bulls attempted to push the price above the $ 16,000 resistance level.
If the bulls succeed, BTC / USD might start on its way to the next target of $ 17,200. That level could be the last stop before the couple tries the best of times again.
The bullish moving averages and the RSI are in the overbought zone indicating that bulls are in control.
Contrary to this assumption, if the price does not exceed $ 16,000, the couple can stay in the $ 14,000 to $ 16,000 range for several more days. A break below the 20-day exponential moving average ($ 14,242) would be the first sign of weakness.
ETH / USD
Ether (ETH) formed in candlestick patterns today for three consecutive days from 8-10. November. The uncertainty has stabilized today, indicating that the sales have been absorbed by the bears and are showing their advantages.
If the bulls manage to hold the price above the wedge resistance line, this cancels out the bearish setup. This would open the door for a revision of the critical resistance level to $ 488,134. A breakout and approaching this level may lead to a resumption of the bullish move.
Initial growth target is $ 520, and if the ETH / USD pair manages to rise to that level, it might rise to $ 550. The bullish moving averages and the RSI in positive territory indicate that the bulls are in control.
Contrary to this assumption, if the price drops below today’s level and breaks through the 20-day moving average ($ 418), that means that the bears are aggressively defending the wedge. They will then try to bring the price back to the 50 day simple moving average of $ 382.
XRP / USD
On November 10, the bulls pushed XRP above upper resistance at $ 0.26, but failed to sustain the breakout. This indicates that sales are at higher levels, but on the positive side, the bulls have not allowed the price to break below the moving average to the downside.
Repeated jumps of resistance weaken it. The bulls are currently trying to push the XRP / USD pair above $ 0.26. If they manage to keep the price above this level, a new bullish trend is likely to emerge.
Initial growth target is $ 0.30. A positive Relative Strength Index (RSI) and 20-day gradual moving average ($ 0.248) indicate bulls spread.
This positive outlook will be canceled if the price falls below the current level and falls below the moving average. Such a move could push the pair towards the support level of $ 0.2295.
Ratio / USD
Chainlink (LINK) has been trading near general resistance at $ 13.28 in recent days. A tight fist near the resistance usually ends with a bullish breakout.
If the price closes above $ 13.28, it will complete an inverted head and shoulders pattern, which may indicate the start of a new bullish move. The target for this setup is $ 19.2731.
Bullish moving averages and RSI in positive territory indicate that bulls are in control.