Pantera Capital letter Founder and CEO Dan Morehead is bullish on Bitcoin (BTC) due to the upcoming halving every bit he believes that "if the new supply of Bitcoin is cut in one-half, all else existence equal, the price should rise". If history were to echo itself, Morehead expects the tiptop-ranked cryptocurrency on CoinMarketCap to rally to $115,212 past August 2022. The CEO too said that gold might be losing its luster but he does not look the yellowish metal to vanish overnight.

Bloomberg'due south senior article strategist Mike McGlone said that in traditional article markets, higher prices are an incentive for the miners to produce more than. If demand cannot keep upward with new supply, the toll either stagnates or drops.

However, Bitcoin's mining cannot be altered, which makes it a ameliorate bet compared to gilded. McGlone besides pointed out that Bitcoin's 180-twenty-four hour period volatility has hitting an best depression. The final time it had done and so resulted in the balderdash market that started in 2022 and ended in 2022.

Daily cryptocurrency market performance. Source: Coin360

Daily cryptocurrency market place performance. Source: Coin360

However, Peter Schiff considers buying Bitcoin before halving every bit a crowded trade and according to him, such trades usually exercise not comport equally expected. Therefore, Schiff expects a lack of buying back up post halving, which could outcome in a precipitous drib.

Digital Asset Investment Management chief operating officer Adam Pokornicky believes that top United states banks such as JPMorgan Chase and Goldman Sachs could be advising their clients against ownership Bitcoin.

BTC/USD

Bitcoin (BTC) has broken out of the pennant, which is a huge positive. This indicates a possible resumption of the uptrend. If the bulls tin push the price above $ix,456.77, a rally to $10,000 and then to $10,500 is likely.

BTC–USD daily chart. Source: Tradingview

BTC–USD daily chart. Source: Tradingview

Both moving averages are sloping up and the relative strength alphabetize is in the overbought zone, which suggests that the bulls are in command.

However, if the bears defend the $9,456.77 level aggressively, a drop to the breakout level of the pennant is likely. If this retest holds, the possibility of a breakout above $9,456.77 increases.

Conversely, if the BTC/USD pair turns down from the current levels or $9,456.77 and breaks beneath the breakout level of the pennant, a drop to the xx-day exponential moving average ($eight,180) is likely.

The stop-loss on the rest of the long position can be kept but below the 20-day EMA because if this support cracks, a deeper correction is possible.

ETH/USD

Ether (ETH) has been holding just in a higher place the centerline of the ascending channel. Both moving averages are sloping up and the RSI has been holding to a higher place the 60 levels, which suggests that bulls have the upper hand.

ETH–USD daily chart. Source: Tradingview​​​​​​​

ETH–USD daily chart. Source: Tradingview

If the bulls tin can push the 2d-ranked cryptocurrency on CoinMarketCap above the downtrend line, a rally to the resistance line of the aqueduct is likely. A breakout of the channel volition be a huge positive every bit that can event in a rally to $250 and so $288.599.

Conversely, if the ETH/USD pair turns down from the downtrend line and breaks below the 20-mean solar day EMA ($195), it will bespeak weakness. Below this level, a drib to the back up line of the channel is possible.

For now, traders can keep the cease-loss on the remaining long positions at $185. A interruption below the aqueduct will point a possible change in trend.

XRP/USD

Having held the critical support at $0.20570 on May iv, the bulls are currently attempting to push XRP towards the overhead resistance zone of $0.23612-$0.24770. The upsloping moving averages and the RSI above 60 levels suggest that bulls have the upper hand.

XRP–USD daily chart. Source: Tradingview​​​​​​​

XRP–USD daily chart. Source: Tradingview

If the bulls tin can scale the price to a higher place $0.24770, the 3rd-ranked cryptocurrency on CoinMarketCap can rally to the long-term downtrend line at $0.28.

Conversely, if the bulls fail to push button the price above $0.24770, the XRP/USD pair is likely to remain range-leap for a few more than days.

A break below $0.20570 will exist the first sign of weakness. Beneath this level, a drop to $0.17372 is possible. Therefore, the stop-loss on the long positions tin can be kept at $0.20.

BCH/USD

Bitcoin Greenbacks (BCH) has held the 20-day EMA ($244) for the past two days just the bulls have not been able to attain a potent bounce off information technology. This suggests a lack of urgency amongst the bulls to buy at the electric current levels.

BCH–USD daily chart. Source: Tradingview​​​​​​​

BCH–USD daily chart. Source: Tradingview

If the bulls fail to propel the fifth-ranked cryptocurrency on CoinMarketCap above the downtrend line, the bears will effort to sink the price below $234.55. If successful, a drop to $200 is likely. Therefore, traders can continue the terminate-loss on the long positions at $230.

Conversely, if the bulls can propel the BCH/USD pair higher up the downtrend line, a move to $280.47 is likely. A breakout of this level will indicate force and open the doors for a rally to $350.

BSV/USD

Bitcoin SV (BSV) has been trading above the 20-twenty-four hour period EMA ($200) for the past two days. This shows that bulls are ownership the dips merely the failure to push button the cost above the downtrend line suggests that demand dries upward at college levels.

BSV–USD daily chart. Source: Tradingview​​​​​​​

BSV–USD daily chart. Source: Tradingview

A break beneath the 20-day EMA can issue in a fall to $187.sixteen then to $170. The bulls are probable to defend this level aggressively.

As the 6th-ranked cryptocurrency on CoinMarketCap has been trading in a big range of $170-$227 for the past few weeks, a drop to $170 can offer a low-risk buying opportunity.

Conversely, if the bulls button the price in a higher place the downtrend line, a rally to $227 is possible. Above this level, the BSV/USD pair is likely to pick up momentum and rally towards $284. Therefore, a breakout to a higher place $227 tin can besides offer a buying opportunity.

LTC/USD

Although the bulls take sustained Litecoin (LTC) in a higher place the 20-day EMA ($45.45) for the past two days, they accept not been able to achieve a stiff bounce. This is a negative sign every bit it shows a lack of demand at higher levels.

LTC–USD daily chart. Source: Tradingview​​​​​​​

LTC–USD daily nautical chart. Source: Tradingview

A driblet below the 20-twenty-four hours EMA will be the showtime indication that the bears are making a comeback. The tendency is likely to plow negative on a break beneath the 50-twenty-four hour period simple moving average ($42.16). Therefore, the traders can protect their long positions with a stop-loss of $42.

Conversely, a strong bounce off the current levels can carry the seventh-ranked cryptocurrency on CoinMarketCap to the $l-$52.2803 resistance zone. In a higher place this zone, a rally to $63.8769 is likely.

BNB/USD

The bulls have kept Binance Money (BNB) to a higher place the 20-day EMA ($16.39) but have not been able to push the price above the downtrend line. This suggests a lack of demand at college levels.

BNB–USD daily chart. Source: Tradingview​​​​​​​

BNB–USD daily chart. Source: Tradingview

The 8th-ranked crypto-asset on CoinMarketCap has formed doji candlestick patterns in the past 2 days, which shows indecision amid the bulls and the bears.

A break above the downtrend line will exist the first sign of forcefulness. If the BNB/USD pair can scale to a higher place $xviii.1377, information technology could result in a quick up move to $21.50.

Conversely, if the bears sink the toll below the support of $xvi.30, a drop to the 50-day SMA ($14.53) is possible. Therefore, the traders can keep the stop-loss on the long positions at $xv.50.

EOS/USD

EOS dipped beneath the uptrend line on May 4 but the bears could not capitalize on the breakup. The altcoin recovered and closed (UTC time) above the 20-day EMA ($ii.74), which suggests buying at lower levels.

EOS–USD daily chart. Source: Tradingview​​​​​​​

EOS–USD daily chart. Source: Tradingview

All the same, since then, the bulls take non been able to push the cost above the overhead resistance of $2.8319, which is a negative sign. Currently, the 9th-ranked cryptocurrency on CoinMarketCap is being squeezed between $2.8319 and the uptrend line.

Soon, a large range movement is likely but it is difficult to predict the management of the breakout because the moving averages and the RSI suggest a balance between buyers and sellers.

If the bulls can propel the EOS/USD pair above the downtrend line, a rally to $3.1802 is possible. Conversely, if the bears sink the pair below the downtrend line, a driblet to $ii.3314 is possible. Traders tin can protect their long positions with a terminate-loss of $2.50.

XTZ/USD

Tezos (XTZ) has been facing stiff resistance shut to $2.8424 level for the by two days. This has kept the altcoin range-bound between $2.8424 and $two.55900337. This tight range action suggests a balance between supply and need.

XTZ–USD daily chart. Source: Tradingview​​​​​​​

XTZ–USD daily chart. Source: Tradingview

Usually, after a tight consolidation, a trending move starts. A suspension above $2.8424 volition tilt the advantage in favor of the bulls and can upshot in a rally to $3.07369598. If this level is scaled, the tenth-ranked cryptocurrency on CoinMarketCap can reach $3.2712.

On the other hand, a break and close (UTC time) below $2.55900337 will complete a bearish head and shoulders pattern that has a target objective of $2.04131076. Therefore, the stops on the remaining long positions can be retained at $2.55.

All the same, it is unlikely to be a straight fall because the bulls are likely to defend the support line of the ascending channel aggressively. If this back up holds, it could offer a buying opportunity only if this support cracks, the reward volition shift in favor of the bears.

XLM/USD

The bulls are struggling to push button Stellar Lumens (XLM) in a higher place the overhead resistance at $0.073434. However, the positive matter is that the bulls have not given up much ground, which suggests strength.

XLM–USD daily chart. Source: Tradingview​​​​​​​

XLM–USD daily nautical chart. Source: Tradingview

If the bulls can propel the 11th-ranked cryptocurrency on CoinMarketCap higher up $0.073434-$0.076994 resistance zone, a rally to $0.088311 is likely. Both moving averages are sloping up and the RSI is close to the overbought zone, which suggests that bulls take the upper manus.

This bullish view will be invalidated if the XLM/USD pair turns down from the current levels and drops below the 20-day EMA ($0.064) and $0.062805 back up zone. Below this zone, a deeper correction is probable.

The views and opinions expressed here are solely those of the author and do not necessarily reverberate the views of Cointelegraph. Every investment and trading motion involves risk. Yous should behave your own enquiry when making a decision.

Marketplace data is provided by HitBTC exchange.