China runs out, which leads to a dead cat’s bounce in encryption

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China runs out, which leads to a dead cat’s bounce in encryption

The encryption market increased modestly on Tuesday, a sign that investors were buying a decrease after the last collapse. Bitcoin price rose to $ 79,000, up from the lowest level this week, which is $ 74500. Other symbols such as Ripple and Ethereum Rose, with the maximum market for all coins of up to $ 2.5 trillion. This prediction is explored at the XRP, ETH and BTC price, the cause of which it rises despite China’s revenge and why this can be a dead cat.

China to avenge the American definitions with the escalation of the trade war

The main address in stock and encryption markets this week is the Donald Trump’s commercial war, which has escalated after it Liberation Day letter Last week. In this letter, put a 34 % tariff on most Chinese imports of the United States.

Beijing took on Friday by placing a 34 % tariff on American goods, a step that could address the agricultural and energy sectors. In a statement on Monday, Trump threatened to impose a 50 % tariff if China advanced its revenge. On Tuesday, Beijing warned of this He will fight to the endRisk a commercial war in fully blown between the largest economy.

Investors have greatly ignored the escalating tone of these countries. BTC PRICE is located at a distance of 80,000 dollars, while ETH and XRP jumped by 4.5 % and 5.15 % in the past 24 hours. Likewise, future contracts with Dow Jones and Nasdak indicators increased by 700 and 200 points.

However, the continuous encryption market rally can be a dead cat, a position in which the assets hanging have a relief gathering and then resume the declining direction. This apostasy, also known as a bull trap, often holds traders who rush to the market.

Bitcoin prediction: still in a landing direction

The weekly graph reveals that the price of bitcoin decreased to $ 74600 on Monday, with the encryption market breakdown. Although the price has settled, although the bullish trend is long -term, it is very early to call the bottom. This is because the coin remains less than the moving average for 25 weeks, and it is a sign that the short pants are intact. Also, the currency is still slightly lower than the Woodie axis point.

Therefore, by staying less than these levels, this means that the price of BTC may be pressure and loses the main support at $ 73,427, the upper side of the giant cup and the handle shown in red. Bitcoin expectancy will remain short -term as long as they are less than 25 EMA, while more gains will be confirmed if more than $ 95,000.

Technical analysis of ETH price: at risk of declining to $ 1,000

probably ETHEREUM price expectations It is where the currency resumes the declining direction and re -testing support at $ 1,000. This condition depends on the fact that it remains less than $ 2,140, which is the underside of the triple graph style. The currency has also moved to less than the 61.8 % Fibonacci re -imitation level and the moving average for 50 weeks. This is a sign that it may decrease to $ 1,000 first, followed by the main support at $ 886, which is the lowest level in 2022.

Technical analysis of XRP: Outlook H& s Pattern

The main risks of the Ripple price are that they have formed a The head and shoulders 1D graph pattern. He is now sitting on the neckline for this style, while the pattern of death intersection is formed. This style happened when WMA crossed for 50 days and 200 days each other on Monday.

Therefore, the most likely XRP expectations are the drop, as the initial goal is to decline by 61.8 % at $ 1.57, followed by the psychological level at one dollar.