It was surprising to see how the speculative news of the approval of the first exchange traded fund (ETF) made Bitcoin radically break the resistance of $ 60,000.
In the midst of this heat of buyers and big players placing their positions at stake, we want to recommend some options that you can buy to generate good profits in the medium and long term. Above all, this article will serve to warn of the possibility of movement against which many are predicting.
Strong Barrier Against The Wall
Two things can happen this new week. One of them is that with the launch of the investment fund, some try to make the primary trend of Bitcoin go to the bottom of the well. The other, that the demand for purchases rises and manages to break the historical maximum price and well above those of $ 64,000.
The truth of the case is that, weekly, Bitcoin has most of the indicators in favor of the trend. We can translate that as a positive signal towards the search for a near historical maximum.
Many at this point wonder whether or not they should buy. Our most sincere answer is that we must warn that we are at a decision point and wait where there is a high risk but with some follow-up for those who made the early purchases.
For those who have not yet decided what to do, we recommend making average prices between $ 59,000 and $ 62,000.
Constant Price Swing
For those who think about continuing to buy Ethereum, we see that weekly it will enter a phase of constant price oscillation between the current price of $ 3800 and $ 5000. The latter as a maximum price and important resistance in case the volume of purchases continues to increase.
Weekly indicators for Ethereum show positivism towards a possible price accumulation but with low relative strength and with a tendency to correction in the short term.
It is very important to be aware to make a decision that the ATR (Average True Range) indicator will first make a standard deviation and then mark a progression towards the primary trend of the market.
Constantly Growing Industry
We continue to bet on video games without fear of losing anything. Lately they are injecting a lot of money or capital into this industry and we believe that it will continue to grow steadily for the coming months.
For the above reason, we believe that a good long-term investment can be the Enjin project. Additionaly, for this community, the official launch of its Efinity technology is planned, which seeks a better economy of the ecosystem and a total separation from the Ethereum platform.
For Enjin token, we see a weekly accumulation between the support of the EMA100 and the exact price of $ 1,60 with respect to the resistance of $ 2,12.
We also believe that there will be a good demand for purchases for this token in the coming months and that it will lead many investors and big players to take good profits until new highs.
Digital Silver Assets
With an accumulation between $ 161.93 and $ 205, we can again consider placing the Litecoin asset in our portfolios.
There is no phenomenal news, but we recognize that when there is an increase in the overall market volume, many large players opt for the major networks to transact between their wallets and exchanges.
Interoperability For Parachains
As write Criptonoticias, Polkadot’s platform founders Gavin Wood and Robert Habermeier reported that the mainnet is already technically capable of supporting its first parachains. According to what the Council of this project reports, the first auctions to allocate spaces will begin on November 11.
Parachains are a group of small specialized blockchains, that are expected to connect to Polkadot to create a multi-chain architecture, as specified in the network’s white paper.
The announcement was made on Twitter at October 13. The message explains that the first batch of 5 auctions will be held in November at a rate of 1 new auction each week. This first batch would be formally incorporated into the network in December.
Amid these advances, the value of Polkadot rose more than 16% in one week. The upside became apparent on October 13, when the cryptocurrency jumped from $ 34.9 to $ 42.14. It continued to climb for the next several days, reaching a high of more than $ 44.29 on October 15.
Among this range of previous prices we can consider to accumulate in the medium and long term.