Monday, September 25, 2023
HomeEthereumPullback complete, first crypto bull run for 2022 begins

Pullback complete, first crypto bull run for 2022 begins

  • Bitcoin prices develop a strong bullish reversal candlestick on its weekly chart.
  • Ethereum pricing finds support for fierce Fibonacci and glance price levels.
  • The price of XRP reaches the time and price range that could push Ripple back to $ 1.00.

Bitcoin price The action is bottomed out and shows clear signs that higher new executions are imminent. Ethereum prices have so far rejected further selling pressure by staying above the bottom of the cloud. The price of XRP is one of the most important gun cycles in the inner ear and will soon show the new Bull Run.

Bitcoin prices bounce and are ready to retest $ 45,000 as resistance

Bitcoin price Is developing Dragonfly Doji, one of the most popular bullish reversal candlesticks in Japan’s candlestick analysis. The dragonfly Doji is a candlestick with little or no body, with a small core on the top and a long core on the bottom. A single candlestick pattern alone is not enough to identify potential bottoms, but the combination of dragonfly Doji and current oscillator conditions supports that theory.

The Relative Strength Index remains in a bear market, but remains relatively unchanged and remains in the neutral territory, despite a significant decline in the last two weeks. The compound index, on the other hand, rises slowly while prices fall, causing regular bullish divergence. This warns that the current downtrend may weaken or end. Finally, the most obvious example of how oversold Bitcoin prices are currently oversold is best represented by the Optex Bands Oscillator, which has been in extreme oversold for the first time since July 2021. ..

BTC / USD Weekly Equilibrium Table

The potential for Bitcoin to rise could be limited to $ 45,000 to $ 47,000 in the short term. The downside risk remains, but it will probably be limited if you find immediate support near the 88.2% Fibonacci retracement where the Bitcoin price is $ 33,000.

Ethereum prices find substantial purchase support between $ 2,150 and $ 2,350

Ethereum price There has been a great bounce since it bottomed out in the $ 2.150 value area. Downside risks do remain, but current pricing behavior seems to have eliminated many of those concerns – for now. Substantial purchases occurred at the bottom of the Fibonacci retracement and cloud at 78.6% ($ 2,160 and $ 2,350, respectively).

Ethereum needs to close the current week Candlestick Where the Chikouspan does not move under the body of the candlestick. To occur, the Ethereum price must end at $ 2,450 or higher. Otherwise, Ethereum will be in a state where another sale may occur.

ETH / USD Weekly Equilibrium Table

If Ethereum’s price is above the bottom of the cloud (Senkou Span B is $ 2,160), it could quickly return to $ 4,000. The Relative Strength Index, Composite Index, and Optex Band Oscillator show extreme oversold conditions. Combined with the current support zone for Ethereum pricing, Ethereum You will soon experience a strong upward trend. Downside risk can be limited to the $ 2,000 value area.

The confluence of XRP prices and time soon suggests a huge price surge

XRP price The action found strong support near the $ 0.64 50% Fibonacci retracement and the $ 0.60 161.8% Fibonacci retracement. This support is provided when XRP develops very oversold conditions on the Relative Strength Index, Composite Index, and Optex Bands Oscillator.

Perhaps the most important warning signal that a new Bull Run may be imminent is the 180-day (180-198) gun cycle of the year. 180 days is the second most powerful inner ear cycle. Gunn writes that the 180-day cycle is likely to establish significant support or resistance levels. In addition, he warned that reversals often occur in this time cycle.

XRP / USD Weekly Equilibrium Table

The Bulls need to look for returns to test the $ 1.00 value area. XRP price You can close over 50% Fibonacci retracement for $ 0.64. Downside pressure remains, but could be limited to a Fibonacci retracement of 61.8% and a psychological price level of $ 0.50.

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