Bitcoin and Ethereum show nine resistors on higher time frame charts according to Avorak AI

The entry of cryptocurrencies signaled a new era of investing opportunities. Investors constantly seek to take advantage of the potential profits and growth that these digital assets can offer. Avorak AI has highlighted a potential trend in the charts of two popular cryptocurrencies, Bitcoin and Ethereum. According to Avorak AI’s chart analysis, Bitcoin and Ethereum are currently showing nine resistors on higher time frame charts, a development that has attracted the attention of many investors.

What Is Avorak AI?

Avorak AI is an AI technology integrated with blockchains to deploy comprehensive AI tools that simplify human-led tasks and enhance crypto trading. In addition, Avorak AI has developed a writing assistant, Avorak Write, that strives to produce nonrepetitive quality content for marketers and other users who need volumes of content. By utilizing internet scraping and NLP, Avorak Write produces plagiarism-free content that suits the user’s style.

Avorak AI has subjected its platform to audits to enhance its security and transparency, and the latest SolidProof audit outlined the platform’s commitment to security. Avorak AI’s token AVRK is on a roll in its ICO phase five, having surged 250% to trade at $0.210, and this rise will continue toward its listing date on the Azbit exchange. With the expected launch price of $1, early adopters will benefit from the rising AVRK value and on-top bonuses of 6%. Phase five will continue until May 10, when the AVRK price will rise as it ushers the next phase.

Avorak AI Tool for Bitcoin and Ethereum Investors

Investing in cryptocurrencies requires a solid understanding of the market dynamics and trends that can influence their value. This is where the technical analysis tools of Avorak AI come in handy, as it provides a systematic approach to studying and analyzing the price movements of cryptocurrencies.

Avorak AI bundled tools comprise trade bots that analyze market data 24/7 and signal trends based on pre-programmed algorithms. Avorak’s trade bot, Avorak Trade, deploys various strategies, including technical analysis to identify signals, resistors, and trends to predict the price movement of diverse cryptocurrencies like Bitcoin, Ethereum, Dogecoin, etc. 

Bitcoin Fear and Greed Index

Bitcoin introduced the world to cryptocurrency when it appeared in 2009. As such, it is the most sought-after cryptocurrency with a huge following and the largest market cap.

The Bitcoin Fear and Greed Index is a tool measuring the sentiment and emotions surrounding the Bitcoin market. It provides a numerical value on a scale of 0-100, representing the level of fear or greed in the market. The index considers market volatility, trading volume, social media sentiment, and survey data, among other parameters. A high score indicates a generally optimistic and bullish investor sentiment, while a low score suggests that investors are fearful and bearish. The Bitcoin Fear and Greed Index can provide insight into the psychology of the market. When investors are fearful, they sell their holdings, leading to a decrease in Bitcoin’s price. On contrast, when investors are greedy, they tend to buy more, leading to an increase in price. By monitoring the Bitcoin Fear and Greed Index, investors can adjust their trading strategies accordingly. Whether an investor plans on active trading or long-term investing, AI technical analysis is essential to making prudent decisions. 

Will Ethereum Go Up?

Ethereum is widely recognized along with Bitcoin and Dogecoin and comes second in market capitalization. Its advanced blockchain technology and development of numerous features make it a fascinating innovation. Ethereum presents a solid investment with the potential to generate enormous profits for investors. Ethereum’s offer of smart contracts and dApps makes it a popular platform for building and deploying various applications in a decentralized manner. With its constantly evolving ecosystem, there is much speculation about whether Ethereum will continue to increase in value. However, it is vital to appreciate that cryptocurrency markets are volatile, and any price predictions should be researched using reliable AI tools like Avorak AI.

Conclusion

As investors digest Bitcoin and Ethereum news, they are turning to technical analysis to gain insights into market trends and make informed trading decisions. Avorak AI provides tools to those closely monitoring the market to see how it will develop.

Find more on Avorak AI and its ICO here:

Website: https://avorak.ai

Buy AVRK: https://invest.avorak.ai/register

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

Photo by micheile henderson on Unsplash