The institutional investors accept maintained their bullish stance on Bitcoin. Though the spot toll is however to hit $ten,000, CME Bitcoin futures have already reached the five-effigy mark. Additionally, the Bitcoin futures open involvement on BitMEX has topped $1.5 billion. This shows that the institutional traders expect the rally to extend further.

Morgan Creek Digital Co-Founder Anthony Pompliano meanwhile has said that his thought of Bitcoin interim every bit a hedge for portfolios due to its non-correlated nature has only solidified over time.

He added that Bitcoin moved in the opposite direction to both the Due south&P 500 index and golden in May 2022 during the trade war. This shows that Bitcoin can add a layer of protection to the portfolio, which no other asset class can practice.

Daily cryptocurrency market performance. Source: Coin360

Governors of vi major central banks volition discuss articulation inquiry on central bank digital currencies when they meet for an International Monetary Fund conference in April.

Japan'south former economy minister Akira Amari wants the "United States to set (digital currency) on the G7 agenda as chair." Amari is concerned about the possible struggle for currency supremacy should People's republic of china launch a digital yuan.

Though Bitcoin has risen most 35% year-to-date, its dominance continues to dip, though the total crypto marketplace capitalization is attempting to hit the $300 billion mark. This shows that the "altseason" narrative is still in play.

BTC/USD

Bitcoin (BTC) has been trading higher up $9,600 for the past two days, which is a bullish sign. There is a psychological resistance at $10,000 but we await it to be crossed. The adjacent target to watch on the upside is $10,360.89.

BTC USD daily chart. Source: Tradingview

We conceptualize the bears to mount a stiff resistance at $x,360.89. Therefore, short-term traders tin can watch this level closely and book partial turn a profit if the bulls struggle to scale the cost above it.

However, if the bulls can push the price above $10,360.89, the BTC/USD pair is likely to move up to the long-term downtrend line at $11,500. Both moving averages are sloping up and the RSI is close to the overbought territory, which suggests that bulls are in control. The traders can trail the stops on the long positions to $8,900.

Our bullish view will be invalidated if the pair breaks the series of higher highs and higher lows it has been making since bottoming out in December of last year. The first sign of weakness will be a break below the recent low of $nine,097.15.

ETH/USD

Ether (ETH) picked upwards momentum after sustaining to a higher place $197.75 on Feb. five. The sharp rally of the by iii days carried the cost above the overhead resistance at $223.999, which is a positive sign. If the toll tin sustain in a higher place $223.999, a move to $235.lxx is possible.

ETH USD daily chart. Source: Tradingview

We expect the bears to mountain a stiff resistance in the $223.999-$235.70 range. The overbought reading on the RSI also suggests a few days of consolidation or a minor correction. Therefore, the traders tin book partial profits in this range and tighten the stops on the remaining long positions to $190.

Nosotros anticipate the bulls to buy the next dip to $197.75. A bounce of this level volition increase the possibility of a suspension above $235.70 just if the level cracks, the ETH/USD pair can dip to the 20-day EMA at $183.72.

XRP/USD

XRP crossed $0.28132 on February. five, which was the minimum target objective of the inverted head and shoulders bottom. The bulls might face up some resistance at the long-term downtrend line, which is just above the current levels.

XRP USD daily chart. Source: Tradingview

The RSI is in the overbought territory, which also suggests a correction might exist around the corner. A dip from the current levels is likely to discover support at the 20-24-hour interval EMA at $0.25. A break below the xx-day EMA will signal weakness.

Conversely, if the bulls can push the price to a higher place the downtrend line, a rally to $0.31503 and above information technology to $0.34229 is possible. The traders can trail the stops on the long positions to just beneath the 20-day EMA at $0.245.

BCH/USD

Bitcoin Greenbacks (BCH) soared to our offset target objective of $440 on Feb. 5. The bears are currently defending this level but if the bulls can push the price and sustain to a higher place it, a move to $500 is possible.

BCH USD daily chart. Source: Tradingview

Though the bulls are in command, the RSI has risen into overbought territory, which suggests a small-scale consolidation or correction for a few days.

Whatever dip from the current levels is likely to notice support at the xx-day EMA at $374. If the price bounces off this support, the bulls will again attempt to resume the upward move. A break below $360 volition turn the trend in favor of the bears.

BSV/USD

The bulls have not been able to sustain Bitcoin SV (BSV) above the resistance line of the triangle in the past two days. This shows a lack of buyers at college levels. The bears will now try to drag the toll to the support line of the triangle.

BSV USD daily chart. Source: Tradingview

The range in the BSV/USD pair has tightened in the past few days. Usually, such toll action is followed by a abrupt move. Even so, it is difficult to predict the direction of the breakout.

If the price breaks out to the upside, $337.80 might offer some resistance higher up which, a retest of the lifetime highs is likely. Conversely, if the cost breaks below the triangle, a dip to $236 and below it to $158.852 is possible.

LTC/USD

Though Litecoin (LTC) broke to a higher place the minor resistance at $73.5259, it has not been able to pick up momentum. This shows that the bulls are tiring out and a few days of range-bound action is possible.

LTC USD daily chart. Source: Tradingview

The LTC/USD pair might consolidate between $lxxx.2731 and $66.1486 for the side by side few days. On a shut (UTC time) to a higher place $80.2731, a move to $96.439 will be on the cards. We might propose long positions on the side by side dip to $66.1486.

However, if the bears sink the price below the critical support at $66.1486, the pair will lose momentum and can extend its pass up.

EOS/USD

The bulls are finding it difficult to carry EOS to the overhead resistance at $4.8719. This shows a lack of buyers at college levels. The altcoin might now dip to the $four.24 to $four.0 back up zone.

EOS USD daily chart. Source: Tradingview

If the cost bounces off the support zone, it will indicate aggressive ownership by the bulls. This volition increment the possibility of a breakout to a higher place $4.8719. Above this level, the EOS/USD can rally to $6.

Conversely, if the bears sink the price below $4, the pair might lose momentum and drop to the next support at $iii.3555.

BNB/USD

Binance Coin (BNB) picked up momentum afterwards breaking out of $19 levels on Feb. 5. The bulls are currently attempting to sustain the cost above the overhead resistance at $21.eighty. If successful, the next level to spotter out for is $23.5213.

BNB USD daily nautical chart. Source: Tradingview

We await the bears to defend the $21.lxxx to $23.5213 zone aggressively. If the bulls struggle to push the toll above $23.5213, the traders might volume partial profits.

However, if the momentum tin carry the price to a higher place $23.5213, a rally to $27 is possible. The traders can trail the stops on the long positions to $18. Our bullish view volition be invalidated if the BNB/USD pair reverses direction sharply and breaks below $18.50.

ADA/USD

The bears are attempting to defend the overhead resistance at $0.065229. They volition now try to drag Cardano (ADA) to the back up at $0.0560221. If the support holds, the price might remain range-bound for a few days.

ADA USD daily chart. Source: Tradingview

If the bulls can button the price above $0.065229, the ADA/USD pair can extend its rally to $0.08. Conversely, the pair will lose momentum if the bears sink the toll back below the 20-day EMA at $0.0522. The traders can trail the stop-loss on the remaining long positions to $0.054.

XTZ/USD

Tezos (XTZ) is facing resistance close to the $two.fifty mark equally suggested in our previous analysis. The RSI has risen into the bought territory, which suggests that a pullback or a consolidation is likely.

XTZ USD daily chart. Source: Tradingview

If the price turns down from the electric current levels, information technology is likely to find support at the breakout level of $1.85. A strong rebound off this support will increase the possibility of a breakout of $two.50. Above this level, the rally can extend to $2.90 and above information technology to $three.35.

Reverse to our assumption, if the bears sink the price below the critical support at $i.85, the XTZ/USD pair will turn negative.

The views and opinions expressed hither are solely those of the writer and do non necessarily reflect the views of Cointelegraph. Every investment and trading move involves gamble. You should conduct your own inquiry when making a determination.

Market data is provided by HitBTC exchange.