BEST CRYPTO TECHNICAL ANALYSIS BY CAPITAL STREET FX

[PhoenixAnderson]

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[Tushar_CSFX72]

Daily Crypto Analysis – Crypto markets uncertain amid inflation fears.

Introduction

"Bitcoin's brief ascent to the $50,000 milestone faces challenges as US CPI inflation data points to persistent inflationary pressure, triggering potential price drops. Ethereum eyes a 10% gain, but caution emerges with signs of falling momentum. Ripple reveals crypto custody plans amidst XRP's sideways trading, while Chainlink hits a one-year high above $20 fueled by increased DeFi adoption and network activity."

Markets In Focus Today – BITCOIN

Bitcoin Price $50,000 Milestone Short-Lived As US CPI Inflation Signals Persistent Inflationary Pressure.

Bitcoin price shocked the market, hitting the $50,000 milestone after two years. BTC could drop 5% into the supply zone turned bullish breaker or confirm an extended fall below $45,554. A higher high above the $50,368 range would invalidate the bearish thesis, bringing $60,000 into focus. US CPI inflation in January printed at 3.1% every year, above the 2.9% market expectation. Bitcoin's (BTC) price has repelled the $50,000 milestone. The retraction follows the US CPI inflation data, which signaled persistent inflationary pressures.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 47621.5930 | Positive Crossover | Bullish
• MA 20 : 45776.7299 | Positive Crossover | Bullish
• MA 50 : 43799.5841 | Positive Crossover | Bullish

Simple :

• MA 10 : 46911.3480 | Positive Crossover | Bullish
• MA 20 : 44804.1700 | Positive Crossover | Bullish
• MA 50 : 43733.3678 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.4816 | Buy Zone | Bullish

Stochastic Oscillator : 94.2667 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50011.09 | Take Profit: 51626.22 | Stop Loss: 49008.60

ETHEREUM

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin hits $52K, Ethereum eyes $3K.

Introduction

Bitcoin marks a new range high, surpassing $50,000 and reaching $52,043, while SEC Chair Gary Gensler emphasizes the economic distinctions between BTC and the US Dollar. BTC's upward momentum may lead to a 5% climb to $55,000, with bulls dominating the market. Ethereum (ETH) eyes a 7% surge to $3,000 if it maintains bullish momentum. XRP hits $0.5590 amid Bitcoin's rally, with increased trade volume and a pro-Ripple response to Gensler's comments. Dogecoin (DOGE) experiences a 7.5% surge, reclaiming its top 10 position, and surpassing Chainlink in market capitalization.

Markets In Focus Today – BITCOIN

Bitcoin Price Posts A New Range High As Gensler Details The Economic Difference Between BTC And The US Dollar.

Bitcoin price put the $50,000 milestone behind it after recording an intraday high of $52,043 on Wednesday.BTC could extend the climb by 5% to $55,000 amid rising momentum and a strong presence of bulls in the BTC market. The bullish thesis will be invalidated if the apex crypto breaks and closes below $45,554.Appearing on CNBC, SEC Chair Gary Gensler said Bitcoin is not decentralized, calling it a token of choice for ransomware. Bitcoin's (BTC) price remains northbound, pushing to higher highs as holders keep their profit appetite in check. Meanwhile, Gary Gensler has drawn a line separating BTC from other currencies.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 48578.2931 | Positive Crossover | Bullish
• MA 20 : 46458.6635 | Positive Crossover | Bullish
• MA 50 : 44159.2752 | Positive Crossover | Bullish

Simple :

• MA 10 : 47943.0210 | Positive Crossover | Bullish
• MA 20 : 45361.2990 | Positive Crossover | Bullish
• MA 50 : 43923.6724 | Positive Crossover | Bullish

RSI (Relative Strength Index): 82.3780 | Buy Zone | Bullish

Stochastic Oscillator : 96.4489 | Buy Zone | Positive

Resistance And Support Levels :

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50489.36 | Take Profit: 53470.55 | Stop Loss: 48863.25

ETHEREUM

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin, Ethereum surge amid regulation.

Introduction

Bitcoin aims for $55,000 despite an overbought state, targeting a crucial barrier at $53,000 within the ascending parallel channel. A 4% extension to $55,000 is plausible as various technical indicators signal bullish momentum. The bullish scenario hinges on maintaining support above $45,554, while Bitcoin's adversary acknowledges its role in the inclusive financial system. Meanwhile, Chainlink sustains proximity to its 2024 high, with reduced exchange supply and positive network activity. Ethereum rallies towards $3,000, anticipating potential Ethereum ETF approvals. XRP gains nearly 2%, nearing the $0.60 target, as investors await updates on the SEC v. Ripple lawsuit with the potential to revive the $1 level.

Markets In Focus Today – BITCOIN

Bitcoin $55,000 In Sight Despite Overbought State As BTC Adversary Turns To Coat.

Bitcoin price confronts a crucial barrier, the upper boundary of the ascending parallel channel at $53,000.BTC could extend gains 4% to $55,000 as multiple technical indicators flash bullish. The bullish thesis would be invalidated if the price breaks and closes below the $45,554 mean threshold. Bitcoin's (BTC) price has its eyes peeled on the $55,000 range after clearing the $50K milestone, with investors demonstrating confidence in the continuation of the intertwined BTC adversary has shocked markets with a bold move to acknowledge BTC as a truly inclusive financial system.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 49109.1734 | Positive Crossover | Bullish
• MA 20 : 46935.1059 | Positive Crossover | Bullish
• MA 50 : 44444.6950 | Positive Crossover | Bullish

Simple :

• MA 10 : 48778.5650 | Positive Crossover | Bullish
• MA 20 : 45820.7650 | Positive Crossover | Bullish
• MA 50 : 44098.8564 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.8229 | Buy Zone | Bullish

Stochastic Oscillator : 93.2464 | Buy Zone | Negative

Resistance And Support Levels :

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50046.40 | Take Profit: 52736.02 | Stop Loss: 48313.09

CHAINLINK

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin surpasses $52K, Ethereum nears $2,900.

Introduction

Crypto markets witnessed a robust rebound as Bitcoin surged past $52,000, contributing to a $1.99 trillion market cap, marking a 10% increase in a week. Ethereum approached the significant $2,900 level, driven by positive sentiment. XRP stabilized above $0.56 amidst the SEC v. Ripple lawsuit deadline. Chainlink, with large wallet holders withdrawing $216 million worth of LINK from exchanges, experiences potential gains. Cryptocurrency enthusiasts eagerly anticipate Bitcoin's potential all-time high in March fueled by call option positions and ETF demand.

Markets In Focus Today – BITCOIN

The Top Crypto Prices Today Saw A Significant Rebound As Bitcoin's (BTC) Price Surged Past The $52,000 Level.

The crypto market capitalization reached $1.99 trillion, according to CoinMarketCap estimates, an increase of over 10% in one week. Forbes estimates that the $2 trillion mark was reached last week The Bitcoin price rebounded and surpassed $52,000. The Bitcoin price was up by 1.07%, reaching $52,118.02 at the time of writing on Monday, February 19. On the other hand, its trading volume dipped by 15.03% to $18.22 billion in the last 24 hours. Meanwhile, the crypto boasted a market cap of $1.02 trillion. Active building of call option positions with strikes of $60K to $80K, as well as fierce demand for ETFs, could push Bitcoin to an all-time high as early as March.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 50487.7376 | Positive Crossover | Bullish
• MA 20 : 48289.6095 | Positive Crossover | Bullish
• MA 50 : 45317.1722 | Positive Crossover | Bullish

Simple :

• MA 10 : 50753.4790 | Positive Crossover | Bullish
• MA 20 : 47226.3365 | Positive Crossover | Bullish
• MA 50 : 44690.2386 | Positive Crossover | Bullish

RSI (Relative Strength Index): 79.5085 | Buy Zone | Bullish

Stochastic Oscillator : 92.1516 | Buy Zone | Negative

Resistance And Support Levels :

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50345.25 | Take Profit: 52736.02 | Stop Loss: 49090.09

ETHEREUM

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[Tushar_CSFX72]

Daily Crypto Analysis – Navigate crypto's ups/downs with key insights.

Introduction

Bitcoin faces a potential downside as it consolidates below the $52,768 level during the US holiday honoring President Washington. Analysts anticipate a 10% drop to $47,445, a critical Fibonacci level unless a new local top above $52,816 emerges. Ethereum, with 16% weekly gains, eyes a revisit to $2,800. XRP climbs to $0.5741 amid the SEC v. Ripple lawsuit's remedies phase. Dogecoin (DOGE) rebounds as whale transactions surpass $1 billion, signaling renewed activity among major holders.

Markets In Focus Today – BITCOIN

Bitcoin Price Consolidation Could Precipitate A Fall As US Markets Remember President Washington.

Bitcoin price has consolidated below the $52,768 roadblock for almost a week amid buyer momentum exhaustion. BTC could drop 10% to the most critical Fibonacci level, 61.8% at $47,445, a formidable blockade between January 8 -12. Invalidation of the bearish thesis will occur if the price records a new local top above the $52,816 range high. Bitcoin's (BTC) price continues to trade horizontally, stepping into the week when the US market is in holiday spirits, commemorating some of the country's founding fathers. There is a big chance that Bitcoin price could record a new all-time high soon, according to Lucas Outumuro, head of research at on-chain aggregator tool IntoTheBlock.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 50631.2192 | Positive Crossover | Bullish
• MA 20 : 48570.2129 | Positive Crossover | Bullish
• MA 50 : 45548.2421 | Positive Crossover | Bullish

Simple :

• MA 10 : 51106.1800 | Positive Crossover | Bullish
• MA 20 : 47656.7890 | Positive Crossover | Bullish
• MA 50 : 44828.6652 | Positive Crossover | Bullish

RSI (Relative Strength Index): 75.0539 | Buy Zone | Bullish

Stochastic Oscillator : 90.3352 | Buy Zone | Neutral

Resistance And Support Levels :

• R1 : 47385.7128 R2 : 49859.0872
• S1 : 39378.6872 S2 : 36905.3128

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 50165.94 | Take Profit: 52736.02 | Stop Loss: 48910.79

ETHEREUM

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[Tushar_CSFX72]

Daily Crypto Analysis – Bitcoin rises, Ethereum falls, XRP struggles, Dogecoin surges.

Introduction

Bitcoin achieves a record-breaking high, surpassing $69,324, propelled by a nearly 65% year-to-date gain and the anticipation of its fourth halving on April 18. Ethereum faces a sharp correction after rallying to $3,850, following Bitcoin's surge, with support found near $3,350. XRP price drops below $0.60 amid a broader crypto market downturn, influenced by concerns surrounding the SEC vs. Ripple lawsuit. Dogecoin experiences a 150% weekly gain as bullish whales invest $250M, indicating confidence in the ongoing price rally despite potential short-term corrections.

Markets In Focus Today – BITCOIN

Bitcoin Peaks At $69,324 With BTC Fourth Halving Around The Corner.

Bitcoin has set up a new all-time high above $69,324 on Tuesday after rallying nearly 9% in the last 24 hours.BTC has registered a nearly 65% year-to-date gain on top of the 155% rally in 2023. The spot ETF approval, which led to a surge in capital inflows, is one of the most important narratives responsible for the parabolic rally. In addition to the Bitcoin spot ETF approval being the main driver behind BTC's price rally to new all-time highs, the halving narrative has also played a pivotal role. The fourth Bitcoin halving will occur on April 18, in roughly 47 days. This event will slash the block reward for miners from 6.25 BTC to 3.125 BTC. The fourth Bitcoin halving, embedded within Bitcoin's code, reduces the rate at which new Bitcoins enter circulation by 50% every roughly four years or 210,000 blocks.

Technical Overview With Chart :

Moving Averages :

Exponential :

• MA 10 : 62200.6334 | Positive Crossover | Bullish
• MA 20 : 58183.7289 | Positive Crossover | Bullish
• MA 50 : 51879.6563 | Positive Crossover | Bullish

Simple :

• MA 10 : 62147.4520 | Positive Crossover | Bullish
• MA 20 : 56942.0865 | Positive Crossover | Bullish
• MA 50 : 49125.0354 | Positive Crossover | Bullish

RSI (Relative Strength Index): 73.6483 | Buy Zone | Bullish

Stochastic Oscillator : 86.5298 | Buy Zone | Negative

Resistance And Support Levels :

• R1 : 64016.7673 R2 : 69244.2994
• S1 : 47093.7394 S2 : 41866.2073

Overall Sentiment: Bullish Market Direction: Buy

Trade Suggestion: Limit Buy: 63218.80 | Take Profit: 67615.95 | Stop Loss: 60644.86

ETHEREUM

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