dailyhodl.com
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.