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WEEKLY CRYPTOCURRENCY NEWS

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 83358.71 TRY

BTCUSD, which started to retrace with the positive Non-Farm Employment Data and the rise of the USD Index, accelerated the selling pressure with the negative news in some international cryptocurrency exchanges and the sales pressure was experienced as far as 9800. Even though entering the 9800 band brings up the gap in CME Futures covering the 9800-9600 band, global dilemmas have increased the strength of buyers in cryptocurrency. The cryptocurrency, which is mainly priced in the 10000 to 10370 band, is positioned in a decisive band.

In a downward scenario, 9800, 9650, and 9500 supports may come with the market's advance with buyers and the breaking of 10000 support. In this case, it is beneficial to pay attention to the closures below 9500.
However, apart from the downward scenario, if we look at the news that may occur in the upcoming period, a buy-oriented perception may be formed by breaking the 10370 resistance. It can be predicted that BTCUSD may experience a return to the 10700-10800 band in the first place, with a positive exit from the band range that is maintained on the horizontal axis. Among the important news that should be taken into account; studies on vaccines are suspended. There is a fact that the USA can prepare a different concept in the COVID-19 incentive package. Oxford has stopped the developments on stage 3 because a patient experienced side effects. This news reduced vaccine expectations and the drug licensing process went into uncertainty. While the news was taking place, gold maintained its strong support; Although limited, cryptocurrencies picked up and BTCUSD showed a willingness to hold on over 10000. If it becomes certain that financial support will be provided in the incentive package, people who escape from this uncertainty can use the cash limited assets created. This may pave the way for upward movement in cryptocurrencies. A positive reaction that can be experienced at the anticipated 10370 resistance will bring the 10700-10800 band. However, breaking of this region may speed up buys and transition to the 11000s level. In the future, the continuation of uncertainties may cause the continuity of the momentum. In this context, it is beneficial to closely monitor vaccination studies and incentive packages, as it has been for a while.
 

RESISTANCES 10370 – 10500 – 10700 – 11000
SUPPORTS 10210 - 10000 – 9800 – 9650

BITCOIN [BTC] 21.377,00 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 2890.34 TRY

Although ETHUSD retraced from the 486 resistance pushed the 400 resistance on September 4, 2020, it could not get approval from the critical level and the sellers increased its strength. The cryptocurrency, retraced to 321 support, recovered after bottoming in the oversold territory on the 4-hour chart and crossed the overbought zone territory exceeding the balance level.
Currently trying to hold on to 363 support, the cryptocurrency is testing 9 MAs upwards. The moving average and then breaking the 373 resistance can trigger the increase in the volume of long positions so that resistances 380, 385 392 can be followed. It is beneficial to pay attention to the 400-407 band in case of upward dynamism.

In cryptocurrency, where intra-channel pricing is observed, it is beneficial to pay attention to channel support in the sales pressures that may occur. Since breaking the canal support can increase the pressure, it is useful to be careful. In possible retraces, supports 363, 354, and 340 can be followed. If the 340 support is broken, attention should be paid to the bandgap of 340-321.
 

RESISTANCES 373 – 385 – 392 – 400
SUPPORTS 363 – 354 – 340 – 332

ETHEREUM [ETH] 21.377,00 TRY +7.00 +0.03 VOL 21 ETH

RIPPLE [XRP] 1.90 TRY

After testing the 0.2440 support, XRPUSD retraced to 0.2305 support, accelerating to 0.2607 resistance but not finding enough strength to break the resistance. The cryptocurrency, which managed to hold above the strong zone, draws attention with its proximity to the balance level on the 4-hour chart. If it can hold above 0.2440, acceleration may occur in the cryptocurrency up to 0.2607 and then 0.2876 resistance.
In a possible sales pressure, retraces up to 0.2305 support can be met as usual. However, the downward break of the specified level may cause continued selling pressure. If the volume of short positions continues to increase, the process up to the 0.2171 and 0.2110 bands can be monitored.
 

RESISTANCES 0.2440 – 0.2607 – 0.2800 – 0.2876
SUPPORTS 0.2395 – 0.2305 – 0.2220 – 0.2171

RIPPLE [XRP] 21.377,00 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 365.72 TRY

LTCUSD retraced to 45 support after completing the head-shoulder pattern, recovered a little from its area. Having difficulty holding above 49 resistance, the cryptocurrency was unable to exit the oversold zone on the daily chart. If it can break the 49-51 band upwards, resistances 55, 57, and 61 may come. However, if it breaks the 47 to 45 band range downward in case of retraces, strong selling pressure may be experienced in the cryptocurrency, and updates on support levels may be required.

RESISTANCES 49 – 51 – 55 - 57
SUPPORTS 47 – 45 – 43 – 39

LITECOIN [LTC] 21.377,00 TRY +7.00 +0.03 VOL 21 LTC