The crypto -cold shower came on a warm summer weekend: what is happening on the market?

In the last weekend of the last real summer time in Hungary there were events in the crypto. On September 19, the BTC price was still around $ 115500 and was on Saturday and Sunday, but on the morning of September 22 the price dropped to $ 11,2300. At the time of writing, the price was somewhat corrected, now they are traded at $ 113,000 with a coin. Market capitalization is around $ 2.25 trillion and the trade volume of 24 hours is more than $ 50 billion.

The current situation reflects a period of increased volatility and shows important technical signs several times. The daily graph shows that Bitcoin is in a correction phase after a rising trend in the short term that peaked at $ 118,000. With a significant reversal of the price, a sort. Beer was formed (toish beish) candle, which fell in the direction of the level of support between $ 112,000 and $ 113,000.

Although the previous $ 107,270 has caused a Low -Bull market momentum, the current exchange rate movement could be carefully seen. That is why it is absolutely worthwhile to wait until the support level is strengthened and set a stop-loss instruction under $ 111,000. According to Oscillators, the market remains neutral. The relative strength index (RSI) is 44, ie the price movement is in balance. The stochastic oscillator moves 54, around the average, and the average direction index (ADX) is 17, which suggests that there is no strong trend or upward trend.

The advancing average (today) is in a short and medium term in line with the story of the Berenmarkt. Exponential advancing averages of 10, 20 and 30 days (EMA), all above the current price, indicate downward pressure, as well as the correct simple advancing average (SMA). It is not necessary to be afraid because Historisch September is one of Bitcoin’s worst performance months, since 2013 with an average monthly decrease of 3.77%. This repetitive pattern often leads to profit-release and portfolio version, especially for institutional investors.

This happened with Ethereum and Altcoins

What happened at sunrise on September 22 was not only the price of Bitcoin, but also the Ethereum. The ETH price was suddenly the correction on Monday, fell more than 7%, broke the most important level of $ 4,200 and agreed in around $ 4148, From where he just started recovering when he was writing the article.

RSI fell to 39.4 and approached the exaggerated area, which indicates a short term. Ether’s Val reflects the wider market weakness, just like in the case of BTC, which has also experienced a decrease in prices in the above.

The volume of Altcoin -Liquidity over the same period exceeded $ 1.7 billion, which increased the downward movement of digital devices. The broader economic conditions further increase caution. Ethereum is currently trading on all 20 days of exponentially advancing average and critically at $ 4,200. who further worsens the momentum in the short term. However, the cryptocurrency continues to keep track of 200 -day -e -mail, which suggests that, despite the weakness in the short term, the wider market cycle remains unchanged. Concerning long -term inflation and the US central bank, Federal Reserve, have seriously influenced the investor atmosphere. In the United States, the capital capacity of cryptocurrency also increased sales pressure.

Many Altcoins followed the downward correction of Bitcoin and Ethereum. On September 16, ARB Token, worth $ 49.78 million, was resolved, with 92.65 million tokens in traffic. This increased offer has probably contributed to the sales pressure for ARB -Token. But as you can see in the diagram, almost all the largest cryptos fell, and on September 22 the price of Solana (SOL) fell by more than 5%and dropped to around $ 220. Sol reached a significant level of resistance at $ 252, which coincides with the 61.8%Fibonacci recovery and the peak of the growing wedge shape. As soon as you don’t have to break through, The price suddenly returned and dropped to $ 220 just under the 20 -day EMA.