Investview, a popular U.S-based financial services technology firm join the lite of microstratety in making purchase of bitcoin and altcoins during the recent dip.
The CEO of Investview, Joe Cammarata made public statement yesterday that,
“We continue to execute on the company’s four key fintech objectives of Bitcoin mining, education, financial trading tools, and our newly-announced digital currency product packages.
Financial education remains a driving force with individual demand growing rapidly especially with greater participation from Gen X and Y. We will continue to enhance our mining operations, expand our educational tools, and increase our offerings to reach our fintech objective.”
This statement shows high level of demand for digital currency by financial institutions. We could also recurred back that when financial institutions such as microstratety, Square made their crypto investment portfolio public, bitcoin and altcoins suddenly recover from the dip and rally.
Yesterday, BTC opened the trading session at $55,683.14. Following on Monday bearish momentum and high volatility during the Asian open session, BTC price further declined by 4.21% to an intraday low of $53,335.94.
On 15th March, the bears broke $55,993.80 minor support at the end of the trading session which led to the extension of dip at the opening of the trading session yesterday.
On 9th March, BTC price created $53,335.94 support. Despite the bears broke the lower band of the Bollinger band, a support was founded at $53,335.94.
Accumulation of bitcoin began at the support after the bears failed to break below the support.
As demand grew, the bulls broke the 9-EMA and rose to the 26-EMA at a high of $56,968.51 at the close of the yesterday session.
The bulls thrust BTC price above the $56,047.68 support with a bullish engulfing 4-hour candle at the close of the session.
The RSI uptick to the neutral region. Correction of the downtrend might be over if the bulls break the 20-SMA in the first 4-hour of Asian session in the next trading session. Then BTC price will retest $58,930.30, upon breakout from the price level, the all-time high we be revisited.
ADA has been on a falling triangular wedge pattern after it rallied to an all time high of $1.47984.
This was 38.2% Fibonacci retracement level to correct the rally, although a healthy correction of the uptrend could have been at the golden zone at the 50/61.8% retracement level.
But due to fundamental impact news that Coinbase has listed ADA yesterday, with high volatility and momentum on the side of the bulls, ADA price rallied to an intraday high of $1.27834.
The bulls broke $1.19997 resistance built on 10th March.
At press time, ADA made a retest of this price level.
ADA will be faced with overhead resistance of $1.31928 in the next few trading sessions.
The RSI uptick to the over-bought territory sharply and also ADA price over run the EMA’s, we could anticipate for retracement of the sudden rise in ADA price for probable retest of the EMA at $1.14584.If the first 4-hour candle closes bearish during the Asian session and dips to $1.14584. Traders should patiently wait for support to be created before taking a buy position.
Yesterday, XLM opened trading session at $0.3834 and fell to an intraday low of $0.3731. XLM rebounced from the support $0.3731 support to an intraday high of $0.4127.
Due to overhead resistance which was created on 13th March, traders booked for profit and
Accumulation of the underlying crypto asset has been on going for long period of time. As seen on the Money flow index technical indicator, inflow of cash is evidence as index remains in neutral zone of 52 and 40 index.
Technically, XLM is poised to break the falling triangular wedge pattern as the price is close to the pennant.
With the 5, 10, 30 EMA acting as a support, XLM price could thrust price above descending wedge pattern to the upside in the day ahead.
Buy opportunity for traders will be at $0.3999 if this scenario plays out.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
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