{"id":7870,"date":"2022-02-14T09:14:40","date_gmt":"2022-02-14T09:14:40","guid":{"rendered":"http:\/\/egrowonline.com\/?p=7870"},"modified":"2022-02-14T09:14:40","modified_gmt":"2022-02-14T09:14:40","slug":"btc-to-test-bulls-conviction","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=7870","title":{"rendered":"BTC to test bulls conviction"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Bitcoin price is likely to retrace another 8% and tag the daily demand zone, extending from $36,398 to $38,895.<\/strong><\/li>\n<li><strong>Ethereum price seems to have found a support level at $2,823, suggesting a slowdown of the downtrend.<\/strong><\/li>\n<li><strong>Ripple price trades comfortably above the 50% retracement level at $0.731, possibly sliding lower.<\/strong><\/li>\n<\/ul>\n<p><a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/bitcoin\" rel=\"noopener\">Bitcoin price<\/a> set up a <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/up-only-for-btc-fundamentals-five-things-to-watch-in-bitcoin-this-week-202202140833\" rel=\"noopener\">higher high<\/a> on the daily chart, and the current retracement is likely to confirm whether bulls are ready or not for a run-up. Ethereum and Ripple show different setups but ultimately will follow in the big crypto\u2019s footsteps.<\/p>\n<h2 class=\"fxs_headline_medium\"><strong>Bitcoin price to test bulls\u2019 resilience<\/strong><\/h2>\n<p>Bitcoin price sliced through its 50-day Simple Moving Average (SMA) on February 9, establishing a higher high at $45,956. This move exhausted the bullish momentum, however, and is currently undergoing retracement.<\/p>\n<p>If the resulting downswing produces a higher low, it will set the scene for a bullish swing. The daily demand zone, stretching from $36,398 to $38,895, is where BTC is likely to set up a higher low, confirming a bullish outlook, and investors can expect the big crypto to see a reversal around this area.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-02-14_12-56-17-637804243884875828.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"BTC\/USD 1-day chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-02-14_12-56-17-637804243884875828.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>BTC\/USD 1-day chart<\/small><\/p>\n<p>On the other hand, if Bitcoin price produces a daily candlestick close below $36,398, it will shatter the demand zone and see price make its way to the weekly support level at $34,752. A daily close below this level will invalidate the bullish thesis and trigger a potential correction all the way to $29,100.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Bitcoin price to post further losses over the weekend before explosive breakout\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/WL8p00a4x-0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<h3 class=\"fxs_headline_medium\"><strong>Ethereum price finds a support level<\/strong><\/h3>\n<p>Ethereum price rallied 41% in two weeks and set up a lower high at $3,284 as it encountered the 50-day SMA. A 10% downswing followed rejection by the SMA, and saw ETH fall to where it currently trades &#8211; above the $2,823 support level.<\/p>\n<p>Investors can expect ETH to sweep below this barrier before a directional bias is established. As long as the smart contract token stays above the weekly support level at $2,324, <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/ethereum-price-expected-to-bounce-as-eth-transaction-fees-fall-to-multi-month-lows-202202140258\" rel=\"noopener\">bulls can flourish<\/a>.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHUSD_2022-02-14_12-56-12-637804244245088235.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"ETH\/USD 1-day chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHUSD_2022-02-14_12-56-12-637804244245088235.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>ETH\/USD 1-day chart<\/small><\/p>\n<p>If <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/ethereum\" rel=\"noopener\">Ethereum<\/a> price produces a daily candlestick close below $2,324, it will create a lower low and suggest the continuation of the downtrend since November 10, 2021. In this case, ETH could revisit $1,730 and collect the liquidity resting below it.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Ethereum price has one obstacle to overcome before $4,400\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/59eo4i0amMs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<h3 class=\"fxs_headline_medium\"><strong>Ripple price maintains its momentum<\/strong><\/h3>\n<p>Ripple price exploded to $0.911 after it broke out of its two-week consolidation. This 55% ascent has since <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/xrp-price-weakens-as-ripple-drops-lower-to-find-critical-support-at-070-202202140419\" rel=\"noopener\">retraced<\/a> by almost half, falling back to the 50% retracement level at $0.731 \u2013 but not quite, suggesting that buyers are still in control.<\/p>\n<p>If Ripple price retraces lower, the daily demand zone, extending from $0.595 to $0.632, will absorb the incoming selling pressure. This will probably lead to a reversal,\u00a0 setting a higher low and indicating the start of an uptrend.<\/p>\n<p>If the buying pressure continues to build up, XRP price will revisit the $1 psychological level and collect the buy-stop liquidity resting above it.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPPERP_2022-02-14_12-56-57-637804244630492529.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"XRP\/USD 1-day chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPPERP_2022-02-14_12-56-57-637804244630492529.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>XRP\/USD 1-day chart<\/small><\/p>\n<p>A daily <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\/candlestick-patterns\" rel=\"noopener\">candlestick<\/a> close below $0.546 will create a lower low, invalidating the bullish thesis. In this case, Ripple price will tag the $0.518 support level and collect the sell-side liquidity below it.\u00a0<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"XRP price finds stable support, targeting $1.20\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/FXWEVUt4KWc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/top-3-price-prediction-bitcoin-ethereum-ripple-btc-to-test-bulls-conviction-202202140840\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is likely to retrace another 8% and tag the daily demand zone, extending from $36,398 to $38,895. Ethereum price seems to have found a support level at $2,823, suggesting a slowdown of the downtrend. Ripple price trades comfortably above the 50% retracement level at $0.731, possibly sliding lower. Bitcoin price set up a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[45],"tags":[194,211,5064,1148],"class_list":["post-7870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-btc","tag-bulls","tag-conviction","tag-test"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/02\/bitcoins-33646574_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7870"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7870\/revisions"}],"predecessor-version":[{"id":7872,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7870\/revisions\/7872"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/7871"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7870"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}