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Cryptocurrencies Market Update ➡️ Solid ECN
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[QUOTE="SOLIDECN, post: 209678, member: 80239"] [JUSTIFY][img]https://i.ibb.co/rkMZX2L/6.png[/img][/JUSTIFY] [HEADING=1][JUSTIFY]BTCUSD, the crypto market remains under pressure[/JUSTIFY][/HEADING] [JUSTIFY]The BTC USD pair continues its rapid decline for the third week in a row and fell below the 18000 mark, but currently the price has returned to the 20000 area, which is seen as key for investors. The main factor of pressure on the cryptocurrency sector is still the sharp tightening of the monetary policy of the US Fed, which creates serious risks of recession in the American economy. As a result, bidders are increasingly abandoning risky assets, including investing in shares of technology companies and cryptocurrencies. It should be noted that at present, the stocks of focused on the digital sector MicroStrategy, Coinbase, Silvergate Capital and others are subject to the greatest negative impact. Thus, the loss of MicroStrategy due to the fall of the market amounted to 1B dollars. Last week, it also became known that the cryptocurrency hedge fund Three Arrows Capital is exploring the possibility of selling its assets, and the Asian-focused crypto lender Babel Finance announced the suspension of work. In general, digital assets are under serious pressure, and the situation will continue to worsen as the US Fed further increases interest rates. [img]https://i.ibb.co/YyKtnZH/btcusd.png[/img] Technically, the key zone for the "bears" is 20000 - 18750. If it breaks down, the decline can continue to 15625 (Murray [1/8]), 12500 (Murray [0/8]) and 10000. With a breakout of the level of 21875 (Murray [3/8]), an increase in the area of 25000 (Murray [4/8], the middle line of the Bollinger Bands) is not excluded, but it is unlikely to lead to a reversal of the current downward trend, the persistence of which is confirmed by technical indicators: the Bollinger Bands are reversing downwards, and the MACD histogram is stable in the negative zone. [B]Resistance levels[/B]: 21875, 25000, 31250 | [B]Support levels[/B]: 20000, 18750, 15625, 12500, 10000[/JUSTIFY] [/QUOTE]
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