Today is Saturday, 20th November, and this is Cointribune’s Crypto analytics. You will learn about everything that’s been going on in the market, as well as what to expect next in our new article! Make sure to have a look at the previous instalment. Off we go!
The Fear and Greed Index has made a confident leap towards greed. However, it still hasn’t fully reached the neutral zone. Many players realise that right now, BTC is caught up in a struggle for a level and entering a deal in this range is tantamount to playing Russian roulette, except this time the revolver drum is half-full.
If the first cryptocurrency breaks above and holds above the $60,000 mark, this will provoke a wave of new purchases. However, at this stage, such an outcome is too unlikely for anyone to bet on it.
There is a chance that BTC will climb a little higher, and thus a step (rebound) will be formed on the chart, from the top of which the first cryptocurrency will continue to fall. Ultimately, shortists are off to test the lower bounds of the expanding trading channel, and it is unlikely that they will retreat after just one failed attempt.
The growth of the first cryptocurrency has had a positive impact on the top alternative digital assets. Some of them, such as Solana (SOL) and Shiba Inu (SHIB), are already showing solid gains, realised by those who were buying up the dip just a couple of days ago.
However, right now, it’s hard to tell whether this is a long-term trend or not. It all depends on how the Bitcoin struggle for the $58,000 – $ 60,000 range will turn out. If the bulls do not cope, we will most likely be facing new sales.
Immutable X (IMX) becomes a day gainer with a profit of over 35%.
Decentraland (MANA) becomes the loser of the day, having brought about 5% of losses to its holders. This is by no means financial advice, but it’s worth noting that we’ve seen numerous occasions like that end with a pump.
Don’t forget about stop-losses, and don’t neglect risk management. If the market continues to fall, take the chance to replenish your long-term portfolio.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
|BITCOIN (BTCUSD) ₿||$19,300.00||0.31%|
|ETHEREUM (ETHUSD) Ξ||$1,057.21||-0.1%|
|IMM. US (REIT)||$2,435.01||1.8%|
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