According to the expert, investors are looking for protective assets to maintain the value of capital in the conditions of the US trade war and show more and more interest in digital assets.
“The strong volume and technical confirmation from the breakthrough of the descending wedge involves a check of the $ 90,000 resistance level. At the same time, the macrofactors, such as the weakening of the dollar and the growing correlation with gold, enhance the attractiveness of bitcoin as a risk hedging tool.”
The growth of cryptocurrency trading volumes, a weakening American dollar, a growing flow of funds in a spot bitcoinETF They provide additional support to the Bitcoin course, the analyst emphasized.
As for the situation with the ether, the asset could not get out of the narrow price range $ 1400 – $ 1700. For the formation of a bull trend, the second one in capitalization of cryptocurrency needs stronger and more stable catalysts, says Bitget specialist.
Earlier, Alphraactal experts said that holding the first level of level of $ 92,500 will be a signal for large bitcoin holders about the upcoming market reversal.
Source: Bits
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