Key points: Bitcoin is nearing the support of the large range, indicating that a relief rally is possible in the near term. Several major altcoins are trying to start a relief rally, but they are likely to meet significant resistance from the bears at higher levels. Bitcoin (BTC) reclaimed the $110,000 level, but it remains…
Read more
Key points: Bitcoin made a strong comeback on Wednesday, but the buyers are expected to face heavy selling near $117,500. Several major altcoins are likely to face selling on rallies, but BNB and AVAX may resume their uptrend. Bitcoin (BTC) rose above $113,900 on Wednesday, indicating that the bulls continue to buy on dips. Strategy…
Read more
Key points: Bitcoin witnessed the biggest long liquidation of the year, indicating that bulls are losing their grip over the market. Several altcoins are striving to hold on to their support levels but may face solid selling on rallies. Bitcoin (BTC) fell to $111,800 on Monday but has since then recovered above the $112,700 level.…
Read more
Key points: Bitcoin faced significant resistance at $117,500, indicating that the bears are unlikely to give up easily. Several major altcoins tried to break above their overhead resistance levels, but the bears held their ground, signaling selling on rallies. Bitcoin (BTC) continues to face significant resistance near $117,500, but a positive sign is that the…
Read more
Key points: Bitcoin is likely to witness wild moves following the Fed’s rate decision, but the price may remain inside the large $107,000 to $124,474 range for some more time. Several altcoins, except BNB, have pulled back, indicating that traders are taking risk off the table before today’s FOMC. Bitcoin (BTC) is facing selling near…
Read more
Key points: Bitcoin is facing significant resistance at $117,500, but the bulls remain on top as long as the price stays above $113,400. Several altcoins are showing signs of profit booking in the near term, but lower levels are likely to attract buyers. Bitcoin’s (BTC) failure to cross above the $117,500 resistance on Monday attracted…
Read more
Key points: Bitcoin’s recovery remains on track, backed by solid demand from the spot Bitcoin ETF buyers. BNB, HYPE, and SOL are leading the altcoin charge higher, signaling solid buying by the bulls. Bitcoin (BTC) rose to $116,495 on Friday, and the relief rally is backed by solid buying in the spot BTC exchange-traded funds…
Read more
Key points: Bitcoin rallied above $114,000 on Wednesday as markets cheered the softer-than-expected inflation figures. Several major altcoins have broken above their overhead resistance levels, signaling the resumption of the up move. Bitcoin (BTC) rallied above $114,000 after the August Producer Price Index (PPI) came in below consensus estimates. The softer-than-expected inflation figures and the…
Read more
Key points: Bitcoin could rally to $115,000 and then to $120,000, but the upside looks capped in the near term if the whales continue to sell. Select altcoins look strong and ready to break above their overhead resistance levels. Bitcoin (BTC) started the new week on a positive note with buyers attempting to sustain the…
Read more
Key points: Bitcoin rallied above $113,000 on Friday, but the long wick on the candlestick shows solid selling at higher levels. Several major altcoins are trying to hold on to their support levels, but the bears have maintained their selling pressure. Sellers pulled Bitcoin (BTC) below $110,000 on Thursday, but the bulls bought the dip…
Read more