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5 things this week; BTC, ETH, XRP, LTC and BCH ideas

28 Jun, 2021 Martin Petkov
5 things this week

Hello and welcome, everyone. It's Martin here with CryptoGains. Let's begin with the five things to watch in Bitcoin for this week. A pretty good, insightful article. First of all, there was a piece coming from Kiyosaki that he is telling people to brace themselves and get ready for the biggest crash in history, suggesting the stock markets are overextended. And he says, "The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one". And he believes that gold, gold, silver and Bitcoin will be the best way to protect yourself from that crash.

In addition to that, Bitcoin was able to register a critical weekly close, which ultimately gave both a happy ending, and they're looking for a recovery as it was able to close above a critical level. Also, there is a record drop in Bitcoin mining difficulty, which is coming, which, also combined with the flock of miners from China, is going to increase Bitcoin cost of production. And typically, when the cost prediction of Bitcoin goes up, so do Bitcoin prices.

Also, the global adoption drive continues, as we're going to discuss in some of the other pieces. Some prominent people, namely Ricardo Salinas Pliego, the third-richest man in Mexico, is contemplating opening a Bitcoin-friendly bank. And all this is happening within the climate of extreme fear, which typically represents good buying opportunities. The average trader's return sunk to a 14-month low as FOMO factors become prevalent. And actually, historical data indicates that this is a better-than-average opportunity to buy Bitcoin.

However, some analysts are turning bullish, provided that Bitcoin reclaims $35,000. And this is the pivot point that I'm using, as well, as you're going to see in the analysis in a minute. As I said, one of Mexico's richest people is vowing to open the first Bitcoin-friendly bank, which of course, is very positive and probably one of the reasons behind the current rally that we're observing in Bitcoin. So let's move to the technical charts and see how we can trade some of these insights.

Beginning with Bitcoin versus Tether, I'm using $35,000 as my pivot point. I'm waiting for a break above $35,000 to initiate long positions, with targets at $36,150 and $37,500. On the short side, if we're below $35,000, it's more prudent to sell Bitcoin, targeting $34,250 and $33,250.

Now let's take a look at Ethereum. Ethereum broke above long-term resistance at $2043, now giving us a good opportunity to initiate long positions, with targets at $2140 and $2250. Conversely, if we're unable to sustain that level and break below $2043, we could see declines to $2000, which is a critical point, then further down to $1819.

Another interesting development has to do with Ripple. A prominent analyst with over 270,000 followers on Twitter believes that Ripple is nearing a bottom against Bitcoin, and from here, it's going to rally, driving Ripple prices higher. So let's take a look at the Ripple chart now. Ripple comes with a buy signal at the time of filming. Above $0.64, a good opportunity to buy Ripple, with targets at the nearest resistance $0.69 and then higher up at $0.74. Conversely, if we're unable to sustain the $0.64 level, we could see declines to $0.60 and then lower to $0.54.

And another idea for today comes from Litecoin. Litecoin also comes with a buy signal on the StormGain platform. Above $133, buying Litecoin, with the nearest target at $137.50 and then higher up at $145.50. Conversely, however, below $133, we could see the downside taking us to $125.50, which is a robust support area, and potentially even lower to $120.

And the final idea comes from Bitcoin Cash. Bitcoin Cash is another asset with a buy signal on StormGain, presenting good opportunities above $480. To me, I'm looking for a bigger move here, with targets on the long side at $520 and then $545. Conversely, below $480, selling Bitcoin Cash, with targets at $450 and $430.

Thanks for joining me today. Keep learning with the video education section and the CryptoGains Market Insights subsection. And remember to join the Crypto Signals Made Easy channel to get your opportunity for insightful articles and trading ideas before we go on holiday on the ninth of July.

Thanks for joining me today. Trade wisely, and I'll see you soon.

Bye-bye.

 

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