Hello INDODAX members, Bitcoin occupies the top position this week, followed by Conflux. Let’s look at the INDODAX market signal this week to find out which crypto assets are bullish and bearish.

5 Crypto Assets (Bullish)

1. Bitcoins (BTC)

On the 1-day chart, BTC continues to experience quite a good strengthening by looking at the movement in the trend since it was able to break from EMA/200, even though it had experienced a correction to break EMA/200 but was able to pull back from the support level 308,000,000 – 322,000,000.

If the weakening occurs in (BTC) Bitcoin, it will try to test the support level in the 355,000,000 – 380,000,000 area. If this area is exceeded, it will create negative pressure for Bitcoin (BTC) on the 1-day chart.

2. Conflux (CFX)

Break from the Sideways zone from the range 335 – 700, which was followed by a positive candle formed so strongly that it could confirm the Bullish zone.

Strengthening CFX (CFX IDR) has a direction to pass the 7,000 level, while if there is a weakening, it will test the Support level at 4,955 and then be available at prices of 2,900 – 3,650.

3. Wrapped NXM (WNXM)

The chart used indicates WNXM Coin has been in the bullish zone since March 1, 2023. Confirmation is available after staying above the support level of 235,000 – 250,000.

The MACD indicator shows if the line crosses positively with the trend being on a positive histogram. Resistance levels are at 378,000 – 510,000.

4. Immutable X (IMX)

Experiencing a correction past the EMA/200, the bullish trend is intact because the candle cannot break from the support level, which is quite dominant at 12,000 – 14,100.

The price of IMX Crypto (Immutable X) is assumed to be quite volatile. The Bollinger Bands indicator is moving quite wide on both lines. Strength will try to break the 24,500 – 28,500 area.

5. Ocean Protocol (OCEAN)

Being able to stay above the 1,770 – 2,300 area and followed by a candle moving to move in the direction of the WMA/85 movement made OCEAN Coin end the Bearish trend to become Bullish.

The MACD indicator indicates that the current trend is in a positive zone with a positive histogram.

The price will move relatively limited, with an estimated range of movement at 4,500 – 7,500 with the passing of one of the levels will create a new trend direction for Ocean Protocol.

5 Bearish Crypto Assets

1. IOTA (IOTA)

IOTA Coin managed to pass and form a Candle above EMA/200, but the Bearish trend failed to be broken because it needed to be followed by a trend that failed to break the Resistance level at 4,400 – 5,000.

The Bearish phase will be suppressed if it can Break Support at the nearest level at 3,645 – 4,100.

2. BakeryToken (BAKE)

BAKE’s current trend movement in the one-day time frame is in the bearish zone, but if BAKE can strengthen and stay above WMA/85, it will increase the opportunity to improve prices and break the resistance level at 3,600 – 4,400.

3. ApeCoin (APE)

The 4-hour chart illustrates that APE has been in the Bearish zone since February 28, 2023, unable to stay above the 78,000 – 81,000 levels, ensuring a phase shift.

The weakening of ApeCoin will continue if no candle is formed above the 71,000 – 77,000 area.

4. Bitcoin SV (BSV)

Based on the MACD indicator, the BSV price direction is in a negative phase, with a weakening which, if it occurs, will lead to a price range of 490,000 – 520,000.

While contrary to this assumption, the Bearish phase will end if BSV can break through the EMA/200 and then stay above the 600,000 – 645,000 level.

5. Coti (COTI Coin)

Even though it is in the Downtrend zone, the opportunity to strengthen is still wide open. If you can make a candle with a full position above the 1,250 – 1,350 area, it will increase the positive momentum on COTI Coin and increase the indication to be in the Bullish zone.

 

NOTE: If the 5 EMA crosses the WMA 75, 85 and 200 EMA lines and the lines intersect from the bottom up, then the market trend tends to go up (bullish), each table above shows that if the 5 EMA value is higher than the 75.85 WMA and 200 EMA, the market tends to go up (bullish).

 If the RSI and MACD values ??show the same condition, it means that the market is showing the same trend. Overbought or oversold conditions are an indicator that the market is already at the point of changing direction of a trend.

 

ATTENTION: All contents which includes text, analysis, predictions, images in the form of graphics and charts, as well as news published on this website, is only used as trading information, and is not a recommendation or suggestion to take action in transacting either buying or selling. certain crypto assets.

All crypto asset trading decisions are independent decisions by the users. Therefore, all risks arising from it, both profit and loss, are not the responsibility of Indodax.