Cryptocurrencies – FinanceBrokerage
Bitcoin, Ethereum, Dogecoin daily view of price movements
Bitcoin’s price was very volatile yesterday. During yesterday’s European session the price was $ 62,000 while the price fell to $ 58,000 during the American session. The Asian session tonight started at $ 60,000 and today’s European session saw smaller gains, rising to $ 61,000.
- The price should stay above $ 60,000 and we need a break above the MA20 and MA50 moving averages.
- The top next resistance is at $ 64,000, and then our resistance is historically high at $ 67,000.
- We need a price withdrawal below $ 60,000 and a continuation below the MA20 and MA50 moving averages.
- We will then descend to the previous low of $ 58,000 where we expect the first potential support.
- Another drop below that support is the $ 55,000 zone.
Ethereum chart analysis
The price of ETHUSD continues to rise during the European session to currently 4400 USD, and it is now very possible to test and create a new historical high. After pulling back at $ 3890 on October 27, the price found support from the MA50 moving average and then we see growth to current levels.
- The price must stay above the $ 4,200 support zone and we have support in the MA20 and MA50 moving averages.
- Our first resistance is the historic high of $ 4,400; at the top we reach a new historical high.
- We need a withdrawal below USD 4,200 and testing the MA20 and MA50 moving averages
- Our next support is the psychological level at $ 4000, a little below that; We’re looking for support at the previous low of $ 3900.
Dogecoin chart analysis
Dogecoin price hit a new higher October high yesterday at 0.34000. After that, in the morning we have a price pullback to 0.28350 and the price has found a current support at 0.29000.
- We have now encountered a support zone at 0.28000, the site of an earlier breakout.
- Further progress brings us to the first resistance zone at 0.32000 and then at 0.34000.
- Breaking above it, we climb to a 0.35000 higher August high.
- We need a dip below 0.27000, the previous resistance zone in October.
- Then we are in the moving averages area of 0.24000-0.26000 where we can expect more support and some price consolidation.
- The lower support below the next support is at 0.22000 and the October lower low is around 0.20000.
Elon Musk believes that reviewing the price of cryptocurrencies could harm your mental health. Elon Musk, CEO of Tesla, assures us that monitoring cryptocurrency prices can lead to mental health problems.
His warning comes after Bitcoin fell more than 7% in a minute before quickly making up for all of Thursday’s decline. The cryptocurrency market has been extremely turbulent this week and Shiba Inu has been a major player in the cryptocurrency market. Meanwhile, the second largest cryptocurrency, ETH, hit a new record of $ 4,400 a few hours ago.
While the billionaire personally owns BTC, ETH, and DOGE, Musk’s stake in crypto is unlikely to be large enough to make cryptocurrency prices work up a sweat. The Tesla boss’s net worth has now surpassed an unbelievable $ 300 billion. Musk recently announced that he bought the coins mentioned “out of curiosity” and denied owning Shiba Inu.
Musk’s concern is not unfounded. As reported by U.Today, research has shown that students experience stress and constant mood swings from investing in cryptocurrencies.
There is a rehabilitation clinic in Scotland for those who are addicted to cryptocurrency trading. Edinburgh’s Castle Craig has treated 15 cryptologist-obsessed patients.
Dependence on cryptocurrencies must look like a different state, but it resembles compulsive gambling. Social media and the promise of big profits make people addicted to volatility.
The daily view of price movements after Bitcoin, Ethereum, Dogecoin first appeared on FinanceBrokerage.