Bitcoin, Ethereum, Dogecoin Ready For Big Moves In One Direction: A Look At The Cryptos Into The Weekend
Portfolio Pulse from Melanie Schaffer
The recent 0.25% rate hike by the Federal Reserve has increased interest in weekend cryptocurrency movements, with Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) expected to make significant moves. Bitcoin and Ethereum have been trading sideways under significant support and resistance levels, while Dogecoin has been consolidating above the 200-day simple moving average (SMA) after a 14% surge.
July 28, 2023 | 8:33 pm
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POSITIVE IMPACT
Dogecoin has been consolidating above the 200-day SMA after a 14% surge, potentially forming a bull flag pattern.
Dogecoin's consolidation above the 200-day SMA after a 14% surge could indicate the formation of a bull flag pattern. If confirmed, this could lead to a significant upward move.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Bitcoin has been trading sideways under the $30,000 mark, indicating consolidation.
Bitcoin's sideways trading under the $30,000 mark indicates a period of consolidation. This could lead to a significant move in either direction, depending on market conditions and investor sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Ethereum has been trading sideways under the $2,000 mark, indicating consolidation.
Ethereum's sideways trading under the $2,000 mark indicates a period of consolidation. This could lead to a significant move in either direction, depending on market conditions and investor sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100