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Cryptocurrency Market Overview - 01 July 2021

Source: Wisebitcoin 2021-07-01

 

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  BTCUSD

TECHNICAL VIEW 

 

 

btc july 1st 2021

UPDATE of today: On an intraday basis, the pair could be forming a harmonic pattern so we are bullish as long as it is trading above 34000. Targets: 36000 followed by 37000.

Main Scenario: The chart above shows that the pair is heading towards the level of 36000. In the long run, we think that we could be bullish as long as the pair is trading above 28200. Our targets: 36000 followed by 38000. On the other hand, if the level of 28200 is broken, the pair might continue going downwards to reach 27356.

 

Important Support and Resistance levels

Resistance Levels Support Levels
40000.00 32000.00
38000.00 29000.00
36000.00 28200.00

Recommended:

We are bullish as long as the pair is trading above 28200.

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

eth july 1st 2021

UPDATE of today: We remain bearish – The pair is still trading below a strong resistance level (2275 that meets a strong moving average of 30 days. Targets: 2100 followed by 2050.

Main Scenario: As could be clearly seen on the chart above that the pair is trading above a strong support level at 1700. Therefore, we are bullish as long as the pair is trading above it. Our targets: 2200 followed by 2400. On the other hand, if the level of 1700 is broken, the pair might continue going downwards to reach 1550.

 

Important Support and Resistance levels

Resistance Levels Support Levels
2650.00 1700.00
2400.00 1600.00
2270.00 1543.00

Recommended:

We are bullish as long as the pair is trading above 1700.

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

xrp july 1st 2021

UPDATE of today: On an intraday basis, we are bullish – The pair is trading above a strong support level that is 10 days moving average. Therefore, we will be bullish as long as the pair is trading above it. Targets: 0.7000 followed by 0.7500 conditioned by the continuation of trading above 0.6470.

Main Scenario: As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.7000. Therefore, we will be bearish as long as the pair is trading below it. Our targets: 0.6000 followed by 0.5500. On the other hand, if the level of 0.7000 is broken, the pair might continue going upwards to reach 0.7900 followed by 0.8250.

 

Important Support and Resistance levels

Resistance Levels Support Levels
0.8600 0.6000
0.7900 0.5500
0.7000 0.5000

Recommended:

We are bearish as long as the pair is trading below 0.7000.