- The great whales must be looking for critical levels.
- A break at these levels would cause damage for years.
- The level of overselling favors a rebound but does not guarantee anything.
In the common language among climbers who dare to climb peaks above the eight thousand meters of height, the part of the path that is above that level is called "Zone of death".
"The death zone is the name used by high altitude mountaineers where there is not enough oxygen available for humans to breathe, usually over 8000 meters (26,247 feet). Most of the above 200 mountaineers who died on Everest have died in the area of death ".
According to these experts, to survive that experience 90% of success is based on mental strength and the ability to make the right decisions.
Well, right now Bitcoin is very close to his "Zone of Death". A weekly closing below $ 3,190 would trigger an emergency scenario due to the extreme need to recover that level in the next 7 days period. A failure in that arena would be fatal for Bitcoin.
The positive side of the current situation is that anyone who maintains mental strength and knows how to make the right decisions can emerge victorious from the mountains and above all alive.
Do you want to know more about my technical configuration?
BTC / USD 240 minutes
The BTC / USD is quoted at $ 3,374 Price level. It has been slightly bullish since the opening of the Asian session. This tone pushes the indicators that are looking for days for any bullish excuse to reduce extreme levels of oversolding.
It is not necessarily a point of inflection or a long-term change. It is premature right now to think in that direction.
Above the current price, the first resistance is a $ 3.542 (Exponential moving average of 50 periods), followed immediately by the second resistance a $ 3,767 (100 period simple moving average) and third resistance a $ 3.927 (resistance due to price congestion). The short-term goal is at the SMA200 level of $ 4,548.
Under the current price, the first level of support is a $ 3.265 (support for price congestion). The second level of support is inside the "dead zone" of $ 2,879 (support for price congestion). The third level of support is a $ 2,530 (support of price congestion) which would certify a "still image" scenario for a prolonged period.
The 240-minute MACD shows a slight uptrend. It also earns the inclination on the positive side. Any progress in that direction can find sufficient strength to advance.
The 240-minute DMI shows us how the Bulls react to the increase from the first hour of the day as the Bears retreat slightly. Both sides of the market will cross later today.
XRP / USD 240 minutes
XRP / USD is currently trading at $ 0.304 Price level. The cross between the XRP against the BTC and the ETH has improved since yesterday and this is proving its price. In this 4H range, it is among the members of the Top3 club that it is the closest to the upside.
Above the current price, the first resistance is a $ 0.31 (resistance to price congestion and EMA50). The second resistance is a $ 0.34 (resistance to price congestion and SMA100). The third level of resistance is a $ 0.37 (resistance to price congestion).
Under the current price, the first level of support is $ 0.296 (support for price congestion). The second level of support is $ 0.27 (support for price congestion). The third level of support, at the annual minimum, is at the price level of $ 0.258 (support for price congestion).
The 240-minute MACD shows a profile inclined to rise and with an increase in the opening between the lines. The area is complex and full of obstacles, so volatility can increase exponentially.
The 240-minute DMI shows that Bulls and Bears are tied to indicator level 20. Bears have a bearish trajectory while the Bulls have a bullish path. Both sides of the market are above the ADX. This structure also favors greater volatility.
ETH / USD 240 minutes
ETH / USD is currently trading at $ 89.70 Price level. During the previous sessions, Ethereum had lost its strength against Bitcoin and Ripple. Structurally, it is that of the three mentioned that has the nearest moving averages. This situation, which can delay the beginning of a possible upward movement, can be very useful if the moves are consolidated.
Above the current price, the first resistance is at the price level of $ 93.84 (EMA50 and resistance to price congestion). The second level of resistance is a $ 104 (SMA100). The third resistance is a $ 125 (resistance to price congestion).
Under the current price, the first level of support is a $ l & # 39; 80 (support for price congestion). The second level of support is a $ 69.8 (price congestion support) will set new annual lows and put Ethereum entirely in its "Dead Zone". Third level support a $ 53.3 (support for price congestion).
The 240-minute MACD does not show the same inclination or separation between the lines as we see in the BTC / USD and in the XRP / USD. The technical details are there, but without the clarity of the other analyzes of today.
The 240-minute DMI shows a similar development to that of the XRP / USD. There is an absolute link between the bulls and the bears. Both are moving away from the ADX which favors an increase in volatility.
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