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Cryptocurrencies Market Update ➡️ Solid ECN
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[QUOTE="SOLIDECN, post: 214710, member: 80239"] [HEADING=1][JUSTIFY][B]BTCUSD - The pair is growing, but the long-term trend has not yet been determined[/B][/JUSTIFY][/HEADING] [JUSTIFY]In general, the market continues to be influenced by a number of opposite factors that hinder the determination of a long-term trend. The pressure on the quotes of "digital gold" is still exerted by the monetary policy of the US Fed, whose officials confirmed this week that the cycle of interest rate hikes is far from over, and its pace is not expected to decrease in the near future. On the other hand, the potential for selling crypto assets also looks limited, since investors who want to part with them have already done so. In addition, hopes for the resumption of serious growth in the sector have recently been supported by expectations of active integration of the Twitter platform with the cryptocurrency market under new owner Elon Musk, which will expand the adoption of digital assets among citizens, as well as a successful outcome for Ripple Labs Inc. litigation against the U.S. Securities and Exchange Commission (SEC). In this case, the possibilities of strict regulation of the cryptocurrency market by the department may be significantly reduced. [img]https://i.ibb.co/NWVBDZS/btcusd.png[/img] Technically, the price has signs of forming a short-term ascending channel. With a breakdown of the 20235-20000 zone (the middle line of the Bollinger Bands, Murray [4/8]), quotes will be able to leave it and continue to decline to the levels of 19375 (Murray [3/8]), 18750 (Murray [2/8]). The key for the "bulls" are the marks of 21250 (Murray [6/8]), consolidation above which will give the prospect of growth to the levels of 21875 (Murray [7/8]), 22500 (Murray [8/8]). [B]Resistance levels[/B]: 21250, 21875, 22500 | [B]Support levels[/B]: 20235, 19375, 18750[/JUSTIFY] [/QUOTE]
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