14th April - Crypto Technical & Market Watch
Blockstack is planning to launch a $50 million token sale that is SEC-qualified. If approved, this will be the first sale under the SEC Regulation A+ framework. Harvard Endowment fund is expected to participate in the purchase.
The developments in the sector are encouraging, but the industry still lacks the full-fledged involvement of institutional players. Goldman Sachs CEO David Solomon has denied that the bank ever wanted to open a crypto trading desk, as reported by the media a few months back.
Bitcoin (BTC) to rally to $5,600 and above it to $5,900 following the breakout above $5,309.31. But the digital currency turned down from $5,404.82. It is currently attempting to hold the support at $4,914.11.The immediate target on the upside is $5,600 and above it $5,900.we suggest traders keep the stop loss on the remaining long positions at $4,600.
The ETH/USD pair will pick up momentum if the bulls scale above $187.98. The target remains $251.64. Our bullish view will be invalidated if the pair turns around from the current levels or from $187.98.traders can retain the stop loss on the remaining long positions at $150.
XRP broke below the immediate support of $0.350 and it might move up to $0.37835.If the pair breaks down it can drop to $0.27795. We do not find any reliable buy setup at the current level; hence, we are not suggesting any trade in it.
BCH dipped below the range of $272.41 to $332.58 and triggered our suggested stop loss of $265 on the remaining long positions.The BCH/USD pair can now move up to $332.58 and above it to $363.30. If the bulls push the price above this resistance, the rally can extend to $451.32. There is a minor resistance at $400 but we expect it to be crossed.if the bulls fail to push the price above $332.58, the digital currency might remain range bound between $255 and $332.58 for a few days. We shall wait for a reliable buy setup to form before proposing long positions once again. The trend will favor the bears if the cryptocurrency dives below $239.
Disclosure: The author holds no cryptocurrency at the time of writing.
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