Bitcoin needs to secure a few daily closes above the $23,350 level to convince traders that a short-term trend change is in order. If this happens, UNI, ICP, AAVE and QNT could move higher.
) broke above the overhead resistance at $6.08 which completed a bullish inverse head and shoulders pattern. The bears are attempting to pull the price back below the breakout level.If they manage to do that, it will suggest that the rise above $6.08 may have been a bull trap. That could pull the price toward the 20-day EMA . If the price rebounds off this level with strength, it could increase the possibility of a break above $6.62.
Contrary to this assumption, if the price turns down and breaks below the 20-EMA, it will suggest that the bears are trying to trap the aggressive bulls. The pair could then drop to the 50-SMA. If this level also cracks, the decline could extend to $4.60.) rose above the 50-day SMA on July 8, indicating that the bulls are attempting to form a bottom.