Economists are divided over the impact of falling interest rates around the world and the continued printing of central banks. However, most experts agree that investors should get paper money and invest in fixed assets.
Gold is a traditional safe haven for choice for institutional investors who want to secure their portfolio or protect purchasing power.
In this digital age, however, crypto enthusiasts believe that Bitcoin (BTC) is a better option than gold. Fidelity Digital Assets believes that “the decentralized settlement network and its digitally rare original assets” make bitcoin a potential value store.
Those who dictate encryption quickly indicate that Bitcoin is still not considered a secure asset by the majority. Although this is in fact the case, more and more institutional money has flowed into the crypt area in recent times.
If dealers are waiting for all organizations to join, it may be too late. Consequently, retailers need to realize the potential of the asset class and take advantage of the early ranking they have over institutional traders.
BTC / USD
Over the past three days, Bitcoin (BTC) has traded close to the $ 11,000 level, which is a positive sign. This indicates that the bulls are not in a hurry to register a profit and do not let the bears break through.
The BTC / USD pair has formed a small bullish triangle pattern, and if the bulls can keep the price above $ 11,377.55, growth is likely to continue. There is little resistance at $ 12,304.37, which could lead to a slight correction or consolidation again.
However, as long as the price remains above the 20-day exponential moving average ($ 10,077), the bearish advantage will continue.
Contrary to speculation, if the pair falls and breaks below the triangle, it may try at the $ 10,500 level again. A gap below this level will be very negative.
ETH / USD
In a strong bullish trend, the correction usually lasts no more than three to five days. Ethereal Correction (ETH) July 28, followed by an internal daylight July 29, which showed a turn between bulls and bears.
However, with the sharp upward movement and the break above $ 332,931 on July 30, rally speculators have confirmed their dominance.
The ETH / USD pair has an immediate target of $ 366, which may be strong resistance as the RSI is deep in the overbought zone, but if this level scales, the next step in the upward movement could reach $ 480.
On the other hand, $ 305 is likely to be solid support. A break below this level will be the first sign that the bears are back in play.
XRP / USD
XRP hit the target for the setup for broken heads and shoulders on July 29 when it hit the $ 0.25 level. After forming an inner candle on July 30, the bulls resume the upswing today.
If the bulls manage to keep the price above $ 0.25, the XRP / USD pair will probably start moving towards the next target of $ 0.284584. The moving high of the 20-day EMA ($ 0.216) indicates that the trend has reversed in favor of the bulls
When the trend changes downwards or upwards, or through an upward range, the RSI may remain in overbought territory for a long time, and therefore this should not be the only reason for a decline. Traders must, however, be vigilant.
A break below the 20-day moving average will be the first sign that the bullish trend has lost momentum.
BCH / USD
Bitcoin Cash (BCH) did not gain momentum after breaking through the level of 280.47 dollars, which indicates some hesitation in the bulls. However, it is a positive sign that the bulls are preventing the price from falling below $ 280.47, which will now be solid support.
Speculators pushed the price above the resistance zone of $ 280.47 – $ 300.38. If they manage to hold BCH / USD above this range, it is likely that the bullish step will pick up steam and rise to $ 360 and then $ 400.
However, the RSI is approaching the 80 level, which has led to a decline in the two previous cases, and therefore the pair may enter into a correction or consolidation around 360 dollars.
This bullish outlook will be void if speculators flood the pair below $ 280.47 and continue to move to their lowest level in three days. Such a move can keep the couple within a certain range for several days.