The US Dollar Index (DXY) unexpectedly slipped below 98 on April 21, marking a three-year low. The weakness of the greenback became a powerful catalyst, pushing gold to a new All-Time-High, while also providing momentum for Bitcoin (BTC) to surpass $88,000.
Arthur Hayes – co-founder of BitMEX and currently Investment Director of Maelstrom – believes this could be the "last opportunity" to own Bitcoin under $100,000. He predicts the US Federal Reserve (Fed) will soon deploy a treasury bond buyback program – a "heavy weapon" that could trigger a new price surge for Bitcoin.
[The rest of the translation follows the same pattern, maintaining the original formatting and links while translating the text to English.]On the contrary, if the price sharply reverses from the resistance level above, it indicates that bears are selling as the price increases. This situation may cause the currency pair to remain trapped in the range between $153 and $120 for a period of time.
Dogecoin (DOGE) price is closely tracking the 20-day EMA ($0.16), showing that selling pressure is gradually decreasing.
The 20-day EMA is moving sideways and the RSI is near the medium level, indicating that supply and demand are in a balanced state. If the price breaks and closes above the 50-day SMA ($0.17), the advantage will lean towards the bulls. At that point, the DOGE/USDT pair could rise to $0.21.
The $0.14 level remains an important support level to watch on the downside. Bears will need to pull the price below $0.14 to signal the continuation of the downtrend. At that point, the currency pair could drop to $0.13 and then $0.10.
Bulls are trying to keep Cardano (ADA) price above the 20-day EMA ($0.63), showing signs of recovery.
The ADA/USDT pair could rise to the 50-day SMA ($0.69), which is an important short-term resistance level to watch. If buyers push the price above the 50-day SMA, it indicates that the correction may have ended. Subsequently, the currency pair could rise to $0.83 and then $1.03.
If the price reverses and drops from the 50-day SMA, bulls will attempt to prevent the correction at the 20-day EMA. If successful, the likelihood of breaking through the 50-day SMA will increase. However, the advantage will lean towards bears if the price breaks below $0.58.
Chainlink (LINK) price closed above the 20-day EMA ($12.90) on April 19 and has reached the 50-day SMA ($13.63).
Bears will try to defend the 50-day SMA, but if bulls break through this barrier, the LINK/USDT pair could gain momentum and rise to the resistance of the descending channel pattern. The $16 level could be a barrier, but is likely to be overcome.
The first support level on the downside is the 20-day EMA, followed by $11.68. If the price breaks and closes below $11.68, it indicates that bears still control the market. At that point, the currency pair could sharply decline to the support line, where buying pressure is expected to emerge.
You can view coin prices here.
Disclaimer: The article is for informational purposes only and is not investment advice. Investors should thoroughly research before making decisions. We are not responsible for your investment decisions.
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