Bitcoin and several altcoins continue to show strength, but charts suggest that each needs a strong close above a key exponential moving average to continue the uptrend.
Bitcoin and select altcoins have started a recovery, but higher levels are likely to attract solid selling by the bears. Is $100,000 BTC’s next stop?
Several analysts claimed that Bitcoin bottomed at $80,000 and that the market has been reset. Do BTC and altcoin charts agree or reveal a different set of facts?
Bitcoin has yet to find a bottom, but the data suggests buyers were very interested in the abrupt dip to $80,000. Several altcoins are also approaching deep discount levels.
Bulls are struggling to hold Bitcoin price above $90,000, but BTC and altcoin charts suggest new yearly lows are the most likely outcome for cryptocurrencies in the short term.
Bitcoin attempted a recovery but is facing selling at higher levels, indicating that bears continue to sell on rallies.
Bitcoin has broken below the psychologically crucial $100,000 level, signaling that the bears are in full control. The next strong support on the downside is at $87,800.
Bitcoin bulls tried to spark a recovery, but were met with heavy selling pressure near $107,000. A similar fate awaited most altcoins, which sold off from their respective resistance levels.
Bitcoin bulls have held the price above the critical $100,000 support level, but a shallow bounce increases the risk of a breakdown. Will altcoins gain ground while BTC searches for direction?
Bitcoin bulls are aggressively defending the critical $100,000 support level, as a break below it may accelerate selling, potentially pulling BTC price below $87,800.