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Speculators managed to stop the fall of the cryptocurrency on the first day off, this morning began with active purchases of Bitcoin and altcoins, which increased capitalization by 2%. The bulls strengthened their position on the plans for the next round of talks between the delegations of Russia and Ukraine, scheduled for Monday.
The largest geopolitical catastrophe of the 21st century, which has been unfolding on the map of Europe since February 24, has had almost no effect on the capitalization of cryptocurrencies.
The digital asset market is currently at the same level and any hint of de-escalation will be the reason for a sharp influx of speculative investment, especially in altcoins, whose quotes are below the levels of the end of trading on February 23rd.
If the bulls manage to raise Bitcoin above $40,000 today, then the Asian session will begin with a signal for growth, which will appear from the crossing of the Moving Average (MA) indicator line by a period of 50 days (1), strengthened by an ascending support line (2), before which there was reversal figure “double bottom”.
According to the rules of technical analysis, three confirmations are enough for a trend, but the coming week is full of negative events. In addition to the unpredictability of the military situation, financial markets can collapse under the influence of economic news.
Next week, the European Central Bank will announce the parameters of monetary policy. Hints of tightening will lead to a massive sell-off in stocks and cryptocurrencies. If, by some miracle, the ECB refuses to change anything, the markets will be “finished off” by the US inflation indicator, which is quite capable of reaching the bar of 8% annual growth.
#Speculators #betting #deescalation #negotiations
