Dear Readers,

We have witnessed the much anticipated and  spectacular rally in the cryptomarkets for the past 2 weeks.

At the time of writing this article, the World Crypto Market cap values at 1.05 T USD which is up by 0.79% from yesterday.  Bitcoin trades at $ 22736.74 which is a slight down of 0.14% from yesterday.

Let’s see some important technicals of Bitcoin.

While $ 22800 was a major resistance for BTC. But with the rally, BTC comfortably crossed the resistance. The RSI in the day chart shows that it is deeply in the overbought region. The Start RSI also indicates in the deeply overbought region.

The next major resistance will be at 25100. This will be a crucial point for BTC for the following reasons.

• Untapped liquidity
• The Coverage Point of 200 DMA crossing point over the 50 DMA ( Death Cross)

What happens when the 200 day moving average crosses the 50-day moving average?

The death cross appears on a chart when a stock's short-term moving average, usually the 50-day, crosses below its long-term moving average, usually the 200-day. The rise of the 50-day moving average above the 200-day moving average is known as a golden cross, and can signal the exhaustion of downward market momentum.

As the witnessed rally in BTC, we need not worry on this too.

The days ahead are very important with the FED announcements. It is widely anticipated that the interest rate would hike by 25 basis point. If FED do this, then there would not be a problem. But if FED hiked 50 basis point, there will be some troubles ahead.

Thanks!