Famed investor Mike Novogratz believes that boosted crypto adoption and more than drastic fundamental banking concern actions will do good Bitcoin. The Galaxy Digital CEO said that hedge funds and high-net worth individuals have been ownership Bitcoin (BTC). Still, Novogratz expects the U.S. disinterestedness markets to go down, hence, he "got short Fri for the starting time time in a while -- both stocks and credit."

Several analysts take suggested that the current crisis is likely to be far worse than the previous financial crunch, which led to the birth of Bitcoin. Gemini co-founder Cameron Winklevoss said that the electric current coronavirus "pandemic will be an inflection point for Bitcoin and the Metaverse." For this reason Winklevoss has advised his followers to "hodl" their Bitcoin holdings.

Daily cryptocurrency marketplace performance. Source: Coin360

However, longtime Bitcoin critic Peter Schiff has a unlike opinion as he expects gilt to outperform Bitcoin over the long term. Over the next several years, Schiff believes that Bitcoin volition crash "back to earth" while "gold moons."

Currently many analysts believe that over the next few weeks, equity markets and Bitcoin volition decouple, leading each asset to chart its ain form. If this were the example, then investors might gradually warm up to Bitcoin as the central banks and governments effectually the globe resort to further easing measures. The upcoming Bitcoin halving could besides be another factor that turns out to be bullish for the largest cryptocurrency.

Over the past calendar week, several major cryptocurrencies turned downwardly from their respective 50-twenty-four hour period simple moving boilerplate afterwards failing to cross above it. Many investors now wonder if the bulls will regroup at lower levels and carry prices higher?

Let'southward analyze the charts to find out.

BTC/USD

Later showing hope, Bitcoin's (BTC) relief rally is fizzling out. There are ii negatives, 1 is the breakup from a rising wedge pattern and the second is a break beneath the xx-24-hour interval exponential moving average ($six,840). Both these propose that the bears are gaining strength.

BTC USD daily chart. Source: Tradingview

There is a pocket-size support at $6,553.21, below which the decline tin extend to the critical support at $5,660.65. If this level also cracks, the BTC/USD pair tin drop to the support line of the symmetrical triangle at $5,000.

This negative view will be invalidated if the pair rebounds off the current levels and the bulls propel the price in a higher place $seven,454.17. Such a move will point strong buying by the bulls at lower levels. For now, the stops on the long positions can be retained at $5,600.

ETH/USD

After trading betwixt the moving averages for the past few days, the bears are currently attempting to sink Ether (ETH) below the twenty-day EMA ($153.fourteen). If successful, it volition indicate that the recent breakout of $155.612 was a bull trap.

ETH USD daily chart. Source: Tradingview

The 20-day EMA has flattened out and the relative strength index has turned down from the 60 levels and slipped below l levels. This suggests that the bulls are losing steam.

Below the 20-solar day EMA, the ETH/USD pair can decline to $137.086 but if this back up also fails to concord upwardly, the next level to watch out for on the downside is $117.09. The traders can protect their long positions with a stop loss at $135.

However, if the pair rebounds off the current levels and breaks higher up the 50-day SMA ($168) and $176.103 resistance zone, it would indicate strength. The first target on the upside is $250 and higher up it $288.599.

XRP/USD

XRP has slipped below the twenty-day EMA ($0.184) after staying above it for the by few days. This is a negative sign as it shows that the bears are gaining the upper hand. On a interruption below $0.175, a drop to $0.15708 is possible. If this level breaks downwardly, it will be a huge negative.

XRP–USD daily nautical chart. Source: Tradingview

Conversely, if the XRP/USD pair rebounds off the electric current levels or the support at $0.15708, the bulls will brand another attempt to calibration above the $0.2057-$0.21608 resistance zone.

If successful, a new uptrend is probable that can accomplish $0.25 and above information technology $0.28. Therefore, the bulls tin can keep the finish loss on the long positions at $0.155.

BCH/USD

Bitcoin Cash (BCH) dropped beneath the twenty-24-hour interval EMA on Apr 10 and the attempts by the bulls to push the toll back above it failed on Apr 11 and 12. As a result, the bears take resumed their selling.

BCH–USD daily chart. Source: Tradingview

Both the moving averages are sloping downward and the RSI has as well dipped into the negative zone, which suggests that bears have the upper hand.

The next support on the downside is $200 and if this level besides cracks, the decline can extend to $166. Therefore, the stops on the long positions can be kept at $197.

Our bearish view will be invalidated if the BCH/USD pair rebounds off the $200 support and rises above $250. Such a move will increment the possibility of a new uptrend.

BSV/USD

Bitcoin SV (BSV) has been trading shut to the $185.87 back up for the past two days. Both the moving averages have converged and the RSI is at the midpoint. This points to a directionless tight range trading for a few days.

BSV–USD daily chart. Source: Tradingview

If the BSV/USD pair dips below $176.90, a drib to $146.xx is possible. On the other paw, if the bulls can push button the price above $183.04, a move to $227 is likely.

A break below $146.twenty will be a huge negative as it can drag the price to $120 and below it to $100 levels. The stop loss on the long positions can be retained at $165.

LTC/USD

Afterward holding the 20-day EMA ($42.11) for the past three days, Litecoin (LTC) has dipped below it today. The 20-day EMA has started to plough downwardly and the RSI has slipped into the negative territory, which suggests that bears accept the upper hand.

LTC–USD daily nautical chart. Source: Tradingview

The next support on the downside is $35.8582. If this support also cracks, the LTC/USD pair tin plummet to $29.3296 and below it to $23.9777. Therefore, the stop loss on the long positions tin exist kept at $35.

Our negative view volition be invalidated if the pair rebounds off $35.8582 and breaks higher up the recent swing high of $47.6551.

EOS/USD

EOS had dipped beneath the breakout level of $2.4001, which is a bearish sign. If the price sustains below this level, it will suggest that the recent breakout was a bull trap. The side by side back up on the downside is $2.0632.

EOS–USD daily chart. Source: Tradingview

The fifty-day SMA continues to gradient down and the 20-solar day EMA has also started to reject. The RSI turned around from the sixty levels and has slipped into the negative territory. This suggests that the bears take the upper hand.

Our negative view volition be invalidated if the EOS/USD pair rebounds off the current levels and rallies to a higher place $2.8319. Such a movement will indicate strength and can result in an up move to $3.86. The stop loss on the long positions tin can be retained at $2.

BNB/USD

The bulls have not been able to propel Binance Money (BNB) above the 50-mean solar day SMA but the positive thing is that they take aggressively defended the support at $thirteen.65. This is a positive sign as it shows demand at lower levels.

BNB–USD daily chart. Source: Tradingview

Both the moving averages are on the verge of a bullish crossover and the RSI has been oscillating between the 50 and lx levels, which is a positive sign.

If the bulls can drive the BNB/USD pair to a higher place the fifty-twenty-four hours SMA ($14.76) and $15.49, a quick rally to $17.50 is probable. Above this level, the rally can extend to $21.fifty.

Our bullish view will be invalidated if the bears sink and sustain the pair below $13.65. Below this level, a drib to $eleven.2552 is possible. For now, the terminate loss on the long positions tin can be kept at $eleven. The stops can be trailed higher to $xiii afterwards the price sustains in a higher place $15.50 for four hours.

XTZ/USD

Tezos (XTZ) has been stuck betwixt both the moving averages for the past few days. This shows a land of residue between the bulls and the bears as both are unwilling to accept large bets.

XTZ–USD daily nautical chart. Source: Tradingview

All the same, this tight range trading is unlikely to go along for long. We expect the range to expand inside the adjacent few days.

If the bulls can propel the cost above the 50-day SMA ($two.07) and $2.185 resistance zone, the XTZ/USD pair is likely to kickoff a new uptrend that can reach $2.75 and above it $3.33.

Conversely, if the bears sink the pair below the 20-day EMA ($1.87), a drop to $1.65 and beneath information technology to $1.4453 is likely. The traders who are long tin keep a end loss of $1.xl to protect their positions.

LINK/USD

Chainlink (LINK) continues to exist one of the strongest major cryptocurrencies. Information technology has been sustaining in a higher place the l-twenty-four hour period SMA for the past few days, which shows that the bulls are belongings their fort.

LINK–USD daily chart. Source: Tradingview

The buyers are currently facing resistance near the 61.viii% Fibonacci retracement level of $iii.5948. Nevertheless, the positive matter is that the bulls have not given up much footing, which shows strength.

The moving averages are on the verge of a bullish crossover and the RSI has been maintaining shut to the overbought levels, which shows that bulls are in command. A break to a higher place $3.5948 can carry the LINK/USD pair to $4.8671.

Contrary to our assumption, if the pair turns down from the current levels and plummets below the 20-day EMA ($2.82), it will signal weakness. However, nosotros requite this a low probability of occurring.

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 movement involves gamble. You should conduct your own research when making a decision.

Marketplace data is provided by HitBTC exchange.