Most retailers find it difficult to have a flock and buy when the market falls. They usually wait for the prices to open and the mood improves before intervening. By doing this, retailers usually lose most of the price increases and make less profit.

On the one hand, professional investors benefit from sharp corrective movements by buying if they believe that the underlying long-term trajectory remains the same.

New research from OKEx Insights and Catallact shows that traders were “shaken” by the Bitcoin (BTC) crash in March and are not returning to the market quickly due to the wait-and-see approach. However, the bigger players saved on during the Black Thursday crash and continued to build their positions throughout the summer.

Now that Bitcoin has risen above the resistance level of $ 10,500, do the charts indicate a resumption of the rally, or is there potential for a reversal at a higher level?

Let’s check the charts to find out!

Bitcoin / US dollars
Although Bitcoin fell from the peak resistance of 10 625 dollars on 13 September, the bulls kept the price from falling below the immediate support of 10 200 dollars, which shows that it is a rally at this level.

If the bulls manage to keep the price above the 20-day exponential moving average ($ 10,728), it is likely a quick move to $ 11,000. This would be the first sign of strength, but bears are unlikely to give up without a fight.

Traders who want to enter a short position are likely to try to defend the $ 11,000 level aggressively, and this may lead to a small withdrawal. If the bulls can keep the next move at $ 10,625, it increases the probability of an increase to $ 12,460.

Contrary to this assumption, if the BTC / USD pair falls from the upper resistance and falls below $ 10,625, it will offer to sell at higher levels. The trading mood will worsen if the bears cut the price below the support to $ 9835.

Traders can track RSI as the indicator sometimes indicates a breakout or breakout. If the RSI rises above the down line, a price increase may follow.

Ether (ETH) jumped off the lower trend line, which is a positive signal as the bulls seem to be buying on the fall of this support.

Over the weekend, traders pushed the price above the 20-day moving average ($ 379) and will now try to overcome the barrier of the 50-day moving average ($ 387).

If the bulls manage to keep the price above the 50-day simple moving average, it will probably increase to 61.8% Fibonacci retracement level of $ 419,473.

ETH / USD can move away from this resistance, as bears are likely to defend it aggressively. But if the bulls manage to defend next fall to the support level of $ 366, it could signal the end of the correction.

This offer will be canceled if the pair falls from the moving average and falls below $ 350. Such a move could lead to a reconsideration of $ 308,392.

XRP / US Dollar
XRP has had the support level of $ 0.235688 in recent days, indicating that bulls are aggressively defending this level. On September 13, they tried to start a meeting for help, but the bears had other plans.

On the plus side, bulls continue to buy at a downturn to the $ 0.235688 support level. The bulls will make another attempt to push the XRP / USD pair above the 20-day moving average ($ 0.25).

If they succeed, they are likely to rise to $ 0.268478. Bears are likely to defend this resistance, and if the pair moves away from it, there may be several days of movement in the range of $ 0.268478 – $ 0.235688.

The next phase of the bearish movement may begin if the bears release the pair below the support zone of $ 0.235688 – $ 0.229582.

The Binance Coin (BNB) gained momentum after breaking through the $ 25.8262 – $ 27.9055 resistance range on September 12th. The bulls are currently trying to keep the price above the $ 32 resistance level.

If successful, the BNB / USD pair is likely to rise to $ 34 and then challenge all-time highs of $ 39.5941.

However, a sharp rally in recent days has pushed the RSI into an overbought area, indicating the possibility of a small consolidation or reversal.

Source: CoinTelegraph