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Bitcoin Breaches Key Resistance of $62K on Newly Launch of Bitcoin ETFs

By Research Team Tuesday, Oct 19, 2021
BTC/USD

    • 11.05am ISTD1
    • High62984
    • Low61597
    • Close62372

BTC/USD is trading at $62383.30 much higher than previous day close. The Bitcoin tested recent highs of $62000 levels on Monday after U.S launched first future-based Bitcoin ETFs which opens up more investing opportunities amongst the traders & investors. Besides this, uncertain chances of U.S stimulus tapering down talks in the near future & suspicious view over interest rate hike make cryptos more expensive last week. As seen in the chart, the BTC/USD almost crossed over the major resistance level of Fibonacci Expansion level 61.8 & is heading over to next Fibo level of 100.0. Upside moving RSI line supports the bull-run & hence, buying on corrective dips may be recommended with the possible target of $64000.

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CryptoCurrency

BTC/USD

Intra Day
Near Day

Technical Levels

R3 66985
R2 64216
R1 63002
Turnaround 61447
S1 60233
S2 58678
S3 55908
By Research Team Tuesday, Oct 19, 2021
XRP/USD

    • 11.20am ISTD1
    • High1.1001
    • Low1.077
    • Close1.0922

XRP/USD is trading at $1.0910, 0.05% up since previous day close. An upward momentum can be seen in Ripple following the positive trading in Bitcoin & other major Altcoins. The launch of futures-based Bitcoin ETFs remained vita factor for crypto world as traders & investors gets more option for trading. On global front, the mixed USD & uncertain equities ahead of Fed Meeting with a focus on interest rate & tapering down decision increases trading volume in crypto-currencies. As seen in the chart, although the XRP/USD is trading within the sideways channel yet is floating near MA (10) & MA (20) which indicate make or break situation further. Also, the RSI line is moving near the mid-level 50. Buying may be favored if crosses the MA (10) on an intraday basis.

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CryptoCurrency

XRP/USD

Intra Day
Near Day

Technical Levels

R3 1.1683
R2 1.1264
R1 1.1057
Turnaround 1.0848
S1 1.0641
S2 1.0432
S3 1.0016
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