Bitcoin and ethereum analysis:
This week the market for cryptocurrency resumed growth. At the moment BTC traded approximately 60,000.00 , and ETH traded approximately 2000.00 . The USDT coin is 1.0000 while the ADA is 1.1930 Overall market capitalisation rose to 1,931T dollars during the week. BTC's market share has declined to 57.9%.
The solutions from the leading paying companies Visa Inc. and PayPal Holdings Inc. supported the market. Visa Inc. has announced that digital transaction assets will start use. To do so, the USDC stablecoin on the Ethereum blockchain was chosen.So the company became the first major payment company to use stablecoin for transactions made only by fiat money. In the future, as stated by the director of company Al**** Kelly, Visa Inc. will actively cooperate with private and public cryptocurrencies.
PayPal Holdings Inc. allowed users, at 29M worldwide sales outlets, to pay for purchases using BTC, LTC, ETH and BCH currencies. In case of payment, cryptocurrencies are converted to fiat automatically. Currently, this function is only available to U.S. users, but the company plans to provide it and customers in other countries in the coming months.In the first quarter of this year, the serious growth of the crypto-currency market fuel the interest in it by big financial businesses. Bids may consolidate or continue to rise for most cryptocurrencies next week.
Minute fifteen chart shows a bullish cypher pattern former today few hours ago, after reaching today asian session 56,400 area.The M15 price is above the hull moving average.Hourly chart also shows that a bullish butterfly pattern formed at tidays lowest price.Now the price of bitcoin is proceeding near the hourly hull moving average support region around 58,800.But the four hour chart shows a bearish shark pattern formed ,at previous week highest price.And after that price lowered below even the hull H4 moving average,and now trading nearby the hull moving average support.
Another view of the four hour chart showing that, the super trend indicator has given bearish signal from today morning.As the price has tested and bounced downside from yesterday's week resistance around 59500 area.The daily chart also shows that the red rectangle untested resistance zone has bounced the price downwards and there is much downwards the price can fall from here.
The hourly chart shows the ethereum price has lowered after yesterday all time high creation, and now below the hull moving average on H1 timeframe.M30 chart shows a bullish bat pattern has formed today asian when.price dropped from 2149 area to 1980$ area.Now the price is again rising after the Bat pattern formed.The four hour chart shows that A bullish shark pattern has formed around two weeks ago, and from then the uptrend is continuing till now.The H4 price is much above the hull moving average.
Another view of the four hour chart shows super trend indicator giving strong uptrend momentum, and the price tested yesterday's highest resistance 2149 area.The daily charts super trend has changed bearish signal to bullish signal previous week and still the uptrend is alive.Dashboard says except the hourly super trend, all timeframes are showing bullish signal for ethereum.Another view of four hour chart shows a triangle pattern formed from yesterday's all time highest price to today's lowest price and upward breakout of the triangle is highly expected.