Crypto Market Outlook: Breakout! Bitcoin Heading To $60,000

Author: Rizqie Atsir Fadhlullah, Busdev Tokenomy

Disclaimer: Tokenomy does not provide any investment, financial, accounting, valuation, tax, legal or other professional advice. The opinions expressed in the article is the author’s personal view only. All decisions to buy, sell or trade any Digital Asset using the Services are made solely by you, and you are fully responsible for all such decisions.

Bitcoin and other crypto assets are back bullish after experiencing a slight correction last week. Several crucial resistance levels are ready to be targeted in this bullish movement

  • Bitcoin heading to $60,000

    After slightly correcting last week, BTC is now bullish again and breaking  $48,000. After the breakout, BTC is projected to move up towards the $59,000 resistance level. However, a dip below $46,000 could lead BTC back to the $42,000 support level.
  • Ethereum is trying to break through resistance level

Ethereum is moving back up towards the $3,500 resistance level after rejecting $2,900 last week. If ETH breaks through $3,500, then it has a great chance to grow to $4,300, an all-time high. However, if there is another rejection at $3,500, ETH will return to its $2,900 support level

  • Cardano hits an all-time high!

After rejecting the $1.9 support level, ADA finally managed to break through its all-time high. If we look at the Fibonacci pulled from the $2.2 – $1.9 swing, the price is now at 261.8. With this, we do not recommend that you get carried away by FOMO and buy without a basis of analysis. At the level of 261.8, a correction may occur at any time. In this position, it is highly recommended to wait when the price has corrected back to the support level at $2.5. If the price rejects again, it will continue to strengthen to a minimum of $3. However, if the correction is too deep—below $2.5—then the $2.2 support level will potentially be tested again.

  • Polkadot trying to break through resistance level

Polkadot is still hovering around the key resistance level. In the analysis above, it can be seen that DOT had broken through a key resistance level, but unfortunately this movement was not accompanied by a high buying volume. However, seeing the positive movement of the crypto market, DOT is projected to continue to be bullish and towards an all-time high. On the other hand, the 200 Moving Average acts as the main support level. If the price falls below the Moving Average, it can continue to fall to $10,300.

  • Binance Coin is moving freely towards the all-time high!

The $380 support level seems to have been the best area to “buy” last week, where prices immediately shot up shortly after the rejection in that area. Currently, the bullish movement of BNB is fairly free, this is because the closest resistance for BNB is at the all-time high of $685. Meanwhile, if suddenly BNB moves down to below $430, then it could possibly re-test the $380 support level.

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