Bitcoin and several major altcoins are attempting to start a recovery, but negative investor sentiment and selling at the range highs are preventing a stronger bull trend from forming.
Bitcoin and altcoin rallies are being capped by heavy selling near the intraday range highs, leading some analysts to revise their end-of-year price estimates. What do technical charts say?
Bitcoin rallies continue to be capped by selling near the intra-day range highs, and the expectation of a Bank of Japan interest rate hike could amplify the downturn in BTC and altcoins.
Bitcoin and several major altcoins have turned down from their respective overhead resistance levels, indicating that the bears are still very active at the range highs.
Bitcoin is attempting a recovery, but the short-term trend depends on the Federal Reserve’s upcoming interest rate decision. Meanwhile, ETH leads the altcoin recovery.
Bitcoin’s negative open to December shows bears’ plan to pull BTC to the $80,000 support. Analysts are now calling for the bull market to end with a drop to $70,000 and below.
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.