Bitcoin (BTC) scale appears to boost confidence in institutional investors looking to continue investing in cryptocurrencies. Proof of this came when London-based hedge fund Marshall Weiss announced plans to invest in digital assets, according to sources in the Financial Times.

A survey of asset managers and institutional investors who already own digital currencies from the United States, United Kingdom, France, Germany and the United Arab Emirates shows that 82% of respondents expect an increase in investment in digital assets by 2023.

A study published with Cointelegraph claims that only 7% of respondents plan to reduce their exposure to cryptocurrency, and 40% plan to “significantly increase their assets.”

Daily performance in the cryptocurrency market. Source: Coin360
Further evidence of institutional interest was highlighted in the CoinShares report, which showed a total institutional inflow of $63 million into digital asset funds. The acquisition was widespread as all individual digital assets with dedicated funds saw an influx for the first time in nine weeks.

However, the arrival of institutional investors is unlikely to lead to a sharp rise in cryptocurrency prices in the short term. This is because institutions gradually accumulate desirable risks before raising prices.

Let’s analyze the charts of the top ten cryptocurrencies to identify the levels that will signal the beginning of a possible bullish trend.

BTC / USDT
In recent days, the bulls have kept bitcoin above the trend line. A break of $36,670 will complete the ascending triangle pattern, which could lead to a move towards the $42,451.67 upper resistance.

BTC/USDT daily chart. Source: TradingView
The bears are likely to offer a strong resistance at $42,451.67. If the price drops from this level, the BTC/USDT pair could drop to $36,670. If the buyers manage to turn this level into support, this indicates that the sentiment is turning positive and traders are buying on the dip.

This will increase the probability of a breakout above $42,451.67. This movement will mean that the correction has completed and the pair is ready to start a new trend.

Conversely, if the price drops from the current level or upper resistance and breaks the trend line, the pair may drop to $31,000. This is an important level to watch because the bears couldn’t get close to it.

If this happens, it means that the bears have absorbed the request. A breach below $28,000 could trigger panic selling and open the door to a drop to $20,000.

ETH / USDT
The bulls have been supporting Ether (ETH) above the 20-day exponential moving average ($2,219) for the past three days, indicating positive sentiment. The buyers are currently trying to push the price while holding above the 50-day simple moving average ($2369).

ETH/USDT daily chart. Source: TradingView
If this succeeds, ETH/USDT could rally to the downside as the bears could set a strong resistance once again. If the price drops from it, but returns from the 20-day moving average, the probability of a breakout above the downtrend increases.

Such a move could open the door for a move towards $2990.05. The breakdown of this resistance will signal the end of the correction.

Conversely, if the price drops from today’s level or upper resistance and breaks through the 20-day moving average, this indicates that the bears are selling on the rise. The pair could then decline to $2000 and then to $1,728.74.

BNB / USDT
On July 6, Binance Coin (BNB) breached the 20-day moving average ($312), indicating an increase in demand. The bears may now try to defend aggressively the 50-day simple moving average ($333).

BNB/USDT daily chart. Source: TradingView
However, a flat 20-day EMA and a Relative Strength Index (RSI) above 53 indicate that the bulls are back in play. If the buyers keep the price above the 50-day simple moving average, the BNB/USDT pair could rise to $379.58 and then to $433.

Contrary to this assumption, the price will indicate that the bears have beaten the bulls and are back in the driver’s seat if the price breaks down from the 50-day simple moving average and drops below $264.26. The pair could then fall to $211.70.

ADA / USDT
Cardano (ADA) has traded above the 20-day moving average ($1.39) for the past three days, but the bulls failed to challenge the 50-day simple moving average ($1.49). The flat 20-day EMA and the Relative Strength Index (RSI) near its midpoint indicate an equilibrium between supply and demand.

Source: CoinTelegraph

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