There has been a nice synergy in crypto. Especially bitcoin‘s actions so far are promising for the future. For this reason, I will share with you some of the coins that I see positive in the market, along with their reasons. However, a Bitcoin assessment would be more appropriate first.
First of all, Bitcoin
On the Bitcoin side, slowdown and selling have been dominant for a while. However, it is positive that the price reacts and stays above $59,000. The orange level here ($59,000) is currently working as a support. Resting above this level is not bad. It will be good for other coins in the market if Bitcoin gathers strength from here and continues to rise again. Today I will talk about these coins.
1. VRA
First, I’ll touch on VRA. The orange level indicates the previous peak. It was working as a resistor. However, it was broken by a voluminous uptrend. The reason I find this coin beautiful is because, as you can see, it holds on to the orange. His holding here is a sign that he will try higher. I first shared this coin on Twitter. It was lower then. It’s a little higher now. However, it can create an opportunity for purchase.
It would make sense to evaluate it, especially if a pullback towards the orange level is seen. If there is a pullback in that area, I’m thinking of making an addition. Technically in very good condition. I have traded a lot in this type of coins (throwing over the previous peak and resting there for a while). It was like that in GRT and RSR for a while. We had good earnings.
2. ADA
Second, there is a jam on the ADA side. The price moves in a very narrow area in the region surrounded by Turunu levels. It can be evaluated by buying and selling. Apart from that, a position can be taken according to the direction of the break.
3. ALGO
Third, ALGO catches my attention. A similar situation I mentioned in VRA is available here. As can be seen, it has been moving above the weekly orange level (previous closing based peak) for a while. It is not overlooked that there is a rapid recovery especially in the withdrawals up to the orange.
While coins linger on their previous highs, they are usually preparing for a new move. For this reason, it is a coin to follow. He might do something crazy in the future. These are major multi-angle indicators.
4. BNB
Fourth, I can point to BNB. Here, too, the level shown in orange has a special importance. As can be seen in the graph, it received a reaction twice and the sale came. Currently, this level is resistance. There is also a decrease in volume.
Exceeding this level and the volume coming in at the same time may be an indicator of something interesting. Follow along.
5. ATOM
Fifth, I will touch on the ATOM side. Again, there is a structure similar to VRA and ALGO. We can see that it is holding above the previous close based peak. It could be a sign for positive action to come.
Another positive aspect of this build in particular is that it is easy to develop a game plan. Above this orange level, there is a positive image for the coin. However, if we go below this level and see closings there, then it will turn negative. Therefore, you can easily determine where and when to leave the position when things go wrong. It is important to remember that you must have an escape plan as well as an entry plan.
Let’s talk about the coins that can rise in a possible altcoin activity? I’m thinking of sharing my favorite coins. Say what? $BTC #BTC
— Furkan Bozkurt (@BzkrtFrkn) October 20, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.