Technical analysis on April 14: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK














Well-known investor Mike Novogratz believes that the adoption of the addition of digital money (CBDC) and the stronger actions of the central bank will benefit Bitcoin. CEO of Galaxy Digital said hedge funds and high net worth individuals bought Bitcoin. However, Novogratz expects the US stock market to go down, because of the Federal Reserve's latest emergency measures, including a commitment to support the risky aspects of financial markets.


Some analysts suppose, I think The current crisis is likely to be much worse than the 2008 financial crisis, followed by the introduction of Bitcoin in 2009. Gemini co-founder, Cameron Winklevoss say The current corona virus pandemic will be a turning point for Bitcoin. For this reason, the Winklevoss advised his followers to continue to "hold" their Bitcoin.


day-14-4-phan-an-ky-thuat


Overview of the crypto market on 14/4 | Source: Coin360


However, long-time Bitcoin critic Peter Schiff thinks that gold will outperform Bitcoin in the long run. Over the next few years, Schiff believes that Bitcoin will "return to earth" while gold will "fly to the moon".


Many analysts now believe that in the next few weeks, the capital and Bitcoin markets will split, resulting in each asset setting its own price chart. If this does occur, then investors may gradually warming Bitcoin as central banks and governments worldwide use further easing measures. The upcoming halving can also be another factor that helps Bitcoin increase, because historically BTC prices have increased after each halving.


Over the past week, several major cryptocurrencies have been rejected by the 50-day MA. This has led many investors to ask, whether the bulls have gathered strength at low levels to continue pushing prices higher?


Let's analyze the charts below to find out.


BTC technical analysis


Once held up, Bitcoin relief protests broke out. There are two negative signals that are undermining this rally, one breaking out of the rising wedge pattern and the second breaking below the 20-day EMA ($ 6,840). Both show that the bears are gaining strength.


day-14-4-phan-an-ky-thuat


Daily BTC / USD chart | Source: TradingView


There is a minor support at $ 6,553, below this level, the fall can extend to the critical support at $ 5,660. If this level is also cracked, pair the BTC / USD may fall to the support line of the symmetrical triangle at 5,000 dollars.


This negative view will be invalidated if Bitcoin bounces back from its current levels and rises above $ 7,454. Such a move would indicate strong buying by the bulls at lower levels. Currently, traders can place a stop loss in their long positions at $ 5,600.


ETH technical analysis


After trading in the middle of moving averages for the past few days, the bears are currently attempting to lower the Ether below the 20-day EMA ($ 153.14). If successful, it will indicate that a break above $ 155.6 recently is a bull trap.


day-14-4-phan-an-ky-thuat


Daily ETH / USD chart | Source: TradingView


The 20-day EMA has flattened out and the RSI has dropped from level 60 and slipped below level 50. This shows that the bulls are weakening.


Below the 20-day EMA, the ETH / USD pair can fall to $ 137 but if this support also fails to hold, then the next level to note is $ 117. Traders can place a stop loss in long positions. at $ 135.


However, if the pair rebounded from the current level and to overcome resistance at the 50 day SMA ($ 168) and $ 176 higher than that level, then it will show strength. The first target for price increases is $ 250 and above it is $ 288.5.


XRP technical analysis


XRP has slipped below the 20-day EMA ($ 0.184) after staying above this EMA for the past few days. This is a negative sign because it shows that the bears are gaining the upper hand. When the price breaks below $ 0.175, it can drop to $ 0.157. If this level is broken, it will be a huge negative.


day-14-4-phan-an-ky-thuat


Daily XRP / USD chart | Source: TradingView


Conversely, if the XRP / USD pair bounces back from the current level or from the support of $ 0.157, then the bulls will make another attempt to scale above the resistance zone of $ 0.205 - $ 0.216.


If successful, a new uptrend is likely to be formed, the next target will be $ 0.25 and higher than $ 0.28. Therefore, traders can place a stop loss in their long positions at $ 0.155.


Technical Analysis Executive


Bitcoin Cash fell below the 20-day EMA on April 10 and the bulls' attempts to push prices back above it failed on April 11 and 12. It shows that the bears are actively selling at higher levels.


day-14-4-phan-an-ky-thuat


Daily BCH / USD chart | Source: TradingView


Both moving averages are sloping down, and the RSI has also dropped to the negative zone, which shows that the bears have the upper hand.


The next support on the downside is $ 200 and if this level also breaks, the drop can extend to $ 166. Therefore, traders can place a stop loss in their long positions at $ 197.


Our bearish view will be invalidated if the BCH / USD pair bounces back from the $ 200 support level and rises above $ 250. Such a move would increase the likelihood of forming a new uptrend.


BSV technical analysis


Bitcoin SV has been trading close to the support of $ 185.8 for the past two days. Both moving averages have converged and the RSI is at the midpoint. This indicates that the prices will be limited scope for a few days.


day-14-4-phan-an-ky-thuat


Daily BSV / USD chart | Source: TradingView


If the BSV / USD pair drops below $ 176.9, a fall to $ 146.2 is possible. On the other hand, if the bulls can push the price above $ 183, a move to $ 227 is possible.


A break below $ 146.2 will be a huge negative as it can drag the price down to $ 120 and lower to $ 100. Therefore, traders can place a stop loss in their long positions. at $ 165.


LTC technical analysis


After holding prices above the 20-day EMA ($ 42.11) for three days, Litecoin (LTC) fell below this level yesterday. The 20-day EMA has started to turn down and the RSI has fallen into negative territory, which shows that the bears have the upper hand.


day-14-4-phan-an-ky-thuat


Daily LTC / USD chart | Source: TradingView


The next support on the downside is $ 35.85. If this support also breaks, the LTC / USD pair can plummet to $ 29.32 and lower to $ 23.97. Therefore, traders can place a stop loss in their long positions at $ 35.


Our negative view will be invalidated if the pair rebounds to $ 35.85 and surpasses the recent high of $ 47.65.


EOS technical analysis


EOS has fallen below the recent breakout of $ 2.4, which is a bearish sign. If the price sustains below this level, it will suggest that the recent breakout is a bull trap. The next support on the downside is $ 2.06.


day-14-4-phan-an-ky-thuat


Chart EOS / USD Daily | Source: TradingView


The 50-day SMA continues to turn down, and the 20-day EMA has been in rhyme. The RSI turned from 60 and has slipped into negative territory. This shows that the bears have the upper hand.


Our negative view will be invalidated if the EOS / USD pair bounces back from the current levels and begins a rally above $ 2.83. Such a move would indicate strength and could result in a rally to $ 3.86. Therefore, traders can place a stop loss in their long positions at $ 2.


BNB technical analysis


The bulls were unable to push Binance Coin above the 50-day SMA but the positive thing is that they strongly defended the support of $ 13.65. This is a positive sign as it indicates lower demand.


day-14-4-phan-an-ky-thuat


Daily BNB / USD chart | Source: TradingView


Both moving averages are on the verge of a bullish cross forming and RSI has fluctuated between 50 and 60, this is a positive sign.


If the bulls can steer the BNB / USD pair above the 50-day SMA ($ 14.76) and a higher level of $ 15.49, a quick rally to $ 17.50 is possible. Above this level, the rally can extend to $ 21.5.


Our bullish view will be invalidated if the bears sink and sustain the price below $ 13.65. Below this level, the price could fall to $ 11.25. Currently, traders can place a stop loss in their long positions at $ 11. The stops can be pulled higher to $ 13 after the price sustains above $ 15.5 for four hours.


XTZ technical analysis


Tezos has been stuck between both moving averages for the past few days. This shows a balance between bulls and bears as they both don't want to bet big.


day-14-4-phan-an-ky-thuat


Daily XTZ / USD chart | Source: TradingView


However, tight trading range this can hardly continue long term, while Bitcoin is likely there are big changes in the next few days.


If the bulls can push the price above the 50-day SMA ($ 2.07) resistance and a higher level of $ 2.18, the XTZ / USD pair will probably start a new uptrend, and the target would be $ 2.75 and higher than $ 3.33.


Conversely, if the bears sink the pair below the 20-day EMA ($ 1.87), the price can fall to $ 1.65 and lower to $ 1.44. Traders can set a stop loss in their long positions at $ 1.4.


LINK technical analysis


Chainlink continues to become one of the most powerful cryptocurrencies. It has been sustaining above the 50-day SMA for the past few days, which shows that the bulls are actively keeping their positions.


day-14-4-phan-an-ky-thuat


Daily LINK / USD chart | Source: TradingView


Buyers are currently facing resistance near the 61.8% Fib retracement level of $ 3.59. However, the positive thing is that the bulls have not given up much ground.


The moving averages are on the verge of a bullish cross forming and RSI has maintained close to overbought, which suggests faction is ordered beef. A break above $ 3.59 can carry the LINK / USD pair to $ 4.86.


Contrary to our assumption, if the pair turns down from the current levels and plummets below the 20-day EMA ($ 2.82), it will signal weakness. However, we believe that the probability of this happening is very low.


You can see the prices of coins here.


Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


Sn_Nour


According to Cointelegraph










Follow the Twitter page | Subscribe to Telegram channel | Follow the Facebook page







Crypto loans are only 5.9% of the annual interest rate - you can use the money effectively without selling coins. Earn up to 8% interest per year with stablecoin, USD, EUR & GBP with insurance up to 100 million. Come on, get started now! →