If the price breaks out of the channel, the bulls can carry the price to $10,500.
If the bulls can push the price above it, the BTC/USD pair is likely to pick up momentum.
If the bulls can push the price above the triangle and the overhead resistance at $288.599, the uptrend will resume.
Conversely, if the price bounces off $0.26362, the bulls will once again attempt to carry the price to the overhead resistance at $0.31503.
If the bulls fail to push BCH above the 20-day EMA, the bears will make another attempt to sink the price below the critical support at $360. If successful, a drop to $306.78 is possible.
Contrary to our assumption, if the bulls can push the price above the 20-day EMA, a rise to $337.80 is possible.
The advantage will tilt in favor of the bulls if the price breaks out and sustains above $23.5213.
If the price rebounds off $2.9204864, the bulls will once again attempt to push the price above the lifetime high at $3.9499.Nonetheless, if the support at $2.9204864 cracks, the XTZ/USD pair can drop to $2.6025, which is the 50% retracement level of the rally.
The bulls are currently attempting to keep the price above the critical support at $0.0560221, which is just below $0.0570183, the 38.2% Fibonacci retracement level of the most recent rally.
A break above $0.065229 can push the price to $0.0722722.
Price Analysis Feb 24: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA
Published on Feb 24, 2020
by Cointele | Published on Coinage
Mentioned in this article
Bitcoin allure has darknet markets jumping to record highs
Of those, including that of Empire Market, one of the largest, longest-running, and most successful darknet markets which stole an estimated $30 million when it went offline in August 2020.
This is the last major hurdle before Bitcoin price can target $20,000
Bitcoin price has been showing impressive strength in the previous weeks and today the price made a new 2020 high at $13,666.
Grayscale Survey: COVID-19 made Bitcoin more appealing to investors
The survey tended to support the view of Bitcoin as a "Safe-haven" asset.
Bill Hinman, who spearheaded the SEC's early crypto guidance, is leaving the commission
Hinman's commentary on the status of cryptocurrencies and the Howey Test was particularly critical to regulation surrounding ICOs.