The bitcoin (BTC) rate and overall crypto market still appear to be recovering from the massive correction two days ago. How are the well-known analysts doing now? In this article you will find some interesting tweets!
Polkadot (DOT) and bitcoin (BTC) above 200-MA
For the time being, the bitcoin price is consolidating after the correction and is therefore able to maintain above the 200-day moving average (MA). Renovato.io has enough information. “Another daily close above the 200-day MA for BTC,” said on-chain analyst Will Clemente. This MA serves as important support for the price. The fact that we are still above that is of course a good sign.
Polkadot (DOT) has also visited its 200-day MA on the DOT/BTC chart due to the correction. The DOT price then bounced off this in what analyst Pentoshi calls a “perfect 200-day MA retest”. DOT is also the only major riser in the top 10 at the moment. Another riser is ripple (XRP).
Ripple (XRP) enjoys Coinbase effect for a while
If you look at the chart of XRP, you will see a striking increase in recent hours. Unfortunately, this increase was short-lived. It was a mistake by Coinbase. As XRP was removed from the trading platform due to the ongoing lawsuit against the Securities and Exchange Commission (SEC), XRP was suddenly visible again. For a brief moment, XRP enjoyed the Coinbase effect that caused XRP to rise by 13% in an hour.
Bullish impulse for bitcoin
Finally, we look at a tweet from on-chain analyst Will Clemente. He notes that there is again a bullish (positive) impulse seen among the investors who are in bitcoin for the long term. https://folm.io/ has enough information. He writes on Twitter: “Another bullish impulse from BTC moving towards long-term investors and coins coming from exchanges. Ignore the noise.”