A widely followed crypto analyst says Bitcoin (BTC) is continuing onward and upward, revisiting an old resistance level.
Pseudonymous crypto trader Rekt Capital tells their 326,400 Twitter followers that the king crypto has held the 200-week moving average (MA) for three weeks.
“BTC is holding the 200-week MA as support for the third week in a row…
BTC has successfully retested the 200-week MA as support and has enjoyed some continuation to the upside.
In doing so, however, BTC has revisited the same resistance price had rejected from a few weeks prior
Red is the resistance to beat”
BTC is going for $24,309 at time of writing, up over 5% on the day.
Rekt next looks at interoperability blockchain protocol Polkadot (DOT), the analyst says DOT must hold $9.27 to enter a re-accumulation phase.
“If DOT is able to Weekly Close inside this green-green range…
Then it will be able to enter a bout of re-accumulation before further upside
Of course, DOT would need to hold $9.27 as support to enable that re-accumulation.”
Currently, DOT is at $9.47, way over Rekt Capital’s target, and up 10% since yesterday.
The trader also looks at Oasis Network (ROSE), a decentralized finance (DeFi) platform, saying ROSE needs to close the week near $0.12 to continue blooming.
“ROSE / USDT –
Rallied over +40% by now, almost reaching blue resistance
At this stage, ROSE needs a Weekly Close above ~$0.12 (blue) to confirm further upside.”
ROSE goes for $0.099 at time of writing, down 5% over the last 24 hours.
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The post Rekt Capital Analyzes Bitcoin, Polkadot and Oasis Network After BTC Blasts Above $24,000 appeared first on The Daily Hodl.
source https://dailyhodl.com/2022/08/11/rekt-capital-analyzes-bitcoin-polkadot-and-oasis-network-after-btc-blasts-above-24000/