Bittime – In this article we will discuss Audius (AUDIO) and Bitcoin (BTC) to provide some insight into their recent market movements and potential upcoming trends. The following is also a discussion from Crypto analyst Tim Johnson.
Audio Analysis (AUDIO)
On the 4-hour chart, Audius experienced a huge spike yesterday, surging around 60%. However, it faced strong resistance at around 25.5 cents (around IDR 4,095.30 at an exchange rate of 1 USD = IDR 16,060,001), touching this level four times before pulling back.
Currently, it looks like Audius is preparing to retest the 21 cent level (around Rp. 3,372.60), which yesterday was a significant resistance point. After successfully breaking through on the third try, this level can now function as support.
The resistance at 25.5 cents suggests that despite Bitcoin's rise, Audius may struggle to break through this resistance soon. Analysts' expectations are that Audius will retest the 21 cent support before making another attempt to climb higher.
If you can successfully maintain this support, the next target is 32 cents (around Rp. 5,139.20), followed by 36 cents (around Rp. 5,781.60) and 51.5 cents (around Rp. 8,270.90).
The accumulation zone for the Audius is around 12.5 cents (around Rp. 2,007.50), so there is a lot of room to go to get out of this zone completely.
Check Today's Crypto Market:
Bitcoin (BTC) Analysis
Recently, Bitcoin touched a resistance line just below $69,000 (approximately IDR 1,108,140,000), which I had identified prior to this analysis. The 4-hour candle showed rejection at this level, although there was a slight push above during the second attempt. Currently, Bitcoin is just below $69,000 with about five hours remaining on the current candle.
If Bitcoin can break through this resistance, the next target levels are $70,000 (around IDR 1,124,200,000), $71,400 (around IDR 1,146,824,000), and then $73,200 (around IDR 1,175,872,000).
Achieving these targets would signal strong bullish momentum and potentially lead to further gains.
Also read Bitcoin (BTC) Price Predictions After the 2024 Halving, BTC Prices Will Be This High!
Market Sentiment and News
Recently, Audius received positive attention, being named one of 14 music technology companies to watch by Business Insider.
While this news may have contributed to the recent surge, it could be short-lived as such recognition often provides only a brief spike in interest.
Also Read How To Buy Crypto:
Conclusion
In short, Audius needs to confirm the 21 cent support before it can attempt to break the 25.5 cent resistance again.
For Bitcoin, breaking the $69,000 level is crucial to target higher levels. Market conditions and news can influence these moves, but technical analysis provides a roadmap for what to watch next.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also:
Prices of Audius (AUDIO) and Lido (LDO) are rising, this is the reason!
Ethereum ETF Approved, AUDIO, ETHFI, ONDO and PEPE Prices Soar!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.