Bitcoin may be preparing for a recovery, fluctuating in the range of 110,000 to 120,000 USD if it does not fall back to the previous price area.
Meanwhile, SOL and ETH are being assessed at important support levels, with positive signs from ETH/BTC and ETH/USD, indicating opportunities to open long-term buy orders on SOL/USD around the 190 USD level.
MAIN CONTENT
Bitcoin can recover and maintain fluctuations in the high price range of 110,000 - 120,000 USD.
SOL/ETH is at an important monthly support level, facilitating the upward trend.
ETH/BTC and ETH/USD are showing positive signals, supporting the strategy of placing buy orders in SOL/USD.
What price range can Bitcoin recover in, and what are the related conditions?
Bitcoin is showing signs of preparing for a recovery, potentially continuing to consolidate in the range of 110,000 to 120,000 USD, as long as the price does not drop back to the previous fluctuation area. This is the viewpoint from Mayne, the founder of the self-operating cryptocurrency company Breakout, affirming Bitcoin's ability to maintain a positive trend within this range.
If Bitcoin does not break lower, the price range of 110,000 to 120,000 USD will become an important resistance level, helping this currency accumulate more strength to break out. Maintaining above this area also instills confidence in investors regarding the medium-term upward trend.
What does the current situation of SOL and ETH reflect about market trends?
The SOL/ETH exchange rate is currently holding at a crucial monthly support level, setting the stage for a potential rebound. This is an important point to anticipate recovery in the coming month.
At the same time, ETH/BTC has surpassed previous highs, meaning that ETH is showing more strength than BTC. The volatility of ETH/USD also shows signs of completing a price sweep this week, providing positive signals for the upward trend.
Why is a long-term buy order on SOL/USD around the 190 USD level recommended?
Based on the analysis of current technical indicators, the price level of 190 USD is identified as a key point for placing long-term buy orders for SOL/USD. Placing buy orders in this area takes advantage of the price recovery support to increase investment efficiency.
This strategy is based on observing increased demand at support levels and the price trends of ETH and BTC consolidating. This increases the confidence that SOL has the potential to continue a positive trend after a slight adjustment.
"Bitcoin has the potential to hold the price range of 110,000 to 120,000 USD if it does not return to the previous range; this is a sign of recovery and strength accumulation."
- Mayne, Founder of Breakout, August 26, 2023
Frequently Asked Questions
Can Bitcoin drop below the 110,000 USD range?
The possibility of dropping below 110,000 USD exists, but according to experts, prices will stabilize and recover if they do not return to this area, helping to maintain a positive trend.
What is the current important support level of SOL/ETH?
SOL/ETH is currently at an important monthly support level, creating opportunities for price increases in the near term according to technical analysis.
Why is ETH/BTC considered a positive sign?
ETH/BTC surpassing previous highs shows that ETH is stronger than BTC, contributing to the strengthening trend in the cryptocurrency market.
Why should long-term buy orders be placed at 190 USD for SOL/USD?
The 190 USD level is a strategic support point that helps investors take advantage of the short-term recovery momentum, increasing the profitability potential as the price rises again.
When were the analyses published?
The above remarks were published on August 26, 2023, by the founder of Breakout, ensuring the timeliness and accuracy of the investment strategy.
Source: https://tintucbitcoin.com/nha-sang-lap-breakout-bitcoin-dinh-moi/
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