Bitcoin Selling Drags Down Altcoins But Dip Buying Continues
The crypto market sell-off continues, but data shows traders are buying the dips.
The crypto market sell-off continues, but data shows traders are buying the dips.
Bulls take full force of the crypto market as ETH and BTC move closer to new all-time highs.
Bitcoin and Ether look strong on the charts, indicating a positive sentiment.
Bitcoin remains bullish as long as it trades above the $112,000 to $110,530 support zone.
Bitcoin and Ether have not given up much ground, suggesting that the bulls are not rushing to the exit.
Buyers will have to maintain the price above $110,530 to prevent a deeper pullback.
Bitcoin bulls struggle to overcome $120,000, but a pending range break could send BTC and altcoins higher.
Bitcoin’s downside break takes a toll on most altcoins, while ETH price still aims for $4,000.
Bitcoin’s consolidation near the highs suggests the bulls are holding on to their positions in anticipation of a rally to new highs.
Bitcoin is in the midst of a new price trend, and while $150,000 is the target, a brief period of consolidation could occur first.
Bitcoin continues to find support at key moving averages, while altcoins set up for a move toward their range highs.
Crypto traders want new all-time highs, but charts suggest Bitcoin could test underlying support levels first.
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