Trent Rhode
Bitcoin is currently trading up and down around $17,000 and appears to be trying to break the 3-week resistance. Yesterday it registered an intra-day high of $17,296.93 but ended the day at a closing price of $16,977.74. Is the price going to be rejected again at this level, or can the $17,000 resistance finally be reclaimed?
Bitcoin Technical Analysis and Price Prediction
Support, Resistance, and Fibonacci Retracement Levels
Plotting a Fibonacci retracement level from the swing low to high reveals the possible support and resistances the price may react to. Right off the bat, it can be observed that the price has some reaction with 0.618, 0.382, and 0.236 levels. 0.382 acted as resistance for a number of days then eventually bounced to 0.618. Now, the price has mounted the 0.236 area in confluence with the daily EMA20. With the breakdown for the past 2 days not confirmed with volume, traders can assume that the last two red candles are retracement to the support area of $16,874 to $16,940. A consolidation within this area may happen before the price makes another attempt to break past the $17,000 resistance level.
Leading Indicators – MACD and RSI
MACD is still in a bullish crossover with the distance between the moving averages steadily increasing as observed from the histogram. RSI was rejected in RSI50, but it’s still looking to break past that level at RSI46.99.
Market remains volatile: Don’t put all your crypto eggs in one basket
With so many unknown variables in bitcoin and the wider crypto market’s price movement in the ongoing bear market, it’s wise to diversify your investment portfolio. By investing in a variety of assets, you can mitigate the effects of volatility in any one particular market sector. These 3 cryptocurrency projects are a great option as they have strong fundamentals and real utility, and have already raised significant capital to give their teams a solid runway.
Dash 2 Trade (D2T)
The Dash 2 Trade platform is a social and analytics trading platform that will be launching in the near future. A few of its many unique features include: trading signals, social sentiment analysis, on-chain indicators, a pre-sale token scoring system, a token listing alert system, and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T coin–which users must buy in order to access all the platform’s capabilities.
Dash 2 Trade is offering tokens at a highly discounted rate during its current pre-sale. D2T token sales have recently surpassed $7.8 million and the sale will soon enter its fourth phase, which will see the token pre-sale price lifted to $0.0533 from $0.0513.
RobotEra (TARO)
The RobotEra project is built on Ethereum and is building a robot-themed, metaverse world that offers users land-buying opportunities as well numerous interactive experiences. A crucial component of the project is that it enables non-programmers to generate their own content, games, and profit from the in-game economy. Also, players can indulge in virtual concerts or other events within the game. Recently, the first phase of RobotEra’s TARO presale has raised over $327,000 dollars so far.
IMPT.IO (IMPT)
IMPT.io will allow users to sell, retire or hold their carbon credits as an investment. Furthermore, the platform will reward users for retiring their carbon credits. The project envisions that after burning their carbon credits, users will receive unique NFT collectibles created by artists. This social platform incentivizes and promotes individuals and organizations to be more environmentally friendly in order to establish the first global score measuring everyone’s impact in terms of carbon footprint. The platform will offer rankings and levels for users to measure and track their progress in making an impact. IMPT.io will give out IMPT.io points, the rewards that users receive for their contribution to positive climate change, for different activities on the platform – from referrals to retiring carbon credits. By doing this, each member of society will be encouraged to make changes themselves to drive societal-level change toward sustainability.
IMPT is the native token of the project, and it’s currently available for presale. In less than three months, over $13.5 million has been raised via stage 1 at a price of $0.023 per token—with the next stage seeing an increase to $0.028. IMPT makes it possible for investors who are interested in environmental, social, and governmental (ESG) investing to profit while also helping improve our planet.
Related:
- Why Crypto Prices Are Far From Dead Despite This Bear Market – Time to Buy?
- Experts Forecast That These Coins Could be the Next Crypto to Explode for 10x Gains (D2T, TARO, RIA, IMPT)
- IMPT Exchange Listings Confirmed For 14th December – 1 Week Left to Buy This $13.5 Million Green Crypto
IMPT - New Eco Friendly Crypto
- Carbon Offsetting Crypto & NFT Project
- Industry Partnerships, Public Team
- Listed on LBank, Uniswap
- Upcoming Listings - Bitmart Dec 28, Gate.io Jan 1st
This article was written for Business 2 Community by Trent Rhode.
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