Bitcoin enters a consolidation phase as traders take profit
Bitcoin is cooling off from its strong rally from the April swing low at $74,500. Will traders buy the dips?
Bitcoin is cooling off from its strong rally from the April swing low at $74,500. Will traders buy the dips?
Bitcoin’s recovery of the $109,000 level is a sign that the uptrend for BTC and altcoins remains in play.
Data suggests Bitcoin’s mild correction will be short-lived as traders step in to buy the dip.
A Bitcoin price close above $110,000 would make traders’ $200,000 end-of-year target feasible.
Bitcoin and altcoins bounced off their intraday lows, proving that bulls are viewing all dips as purchasing opportunities.
Bitcoin remains range-bound, but chart technicals predict a run to $130,000 if the current resistance level gives way.
Bitcoin bulls struggle to hold $105,000, but the price consolidation has opened the door for strong performances from altcoins.
Bitcoin’s correction has not curtailed investor attention in select altcoins, which continue to move higher.
Ethereum leads among altcoins as Bitcoin bulls work to turn the $100,000 level into a new BTC price support.
Bitcoin looks set to rally to $100,000. Will altcoins follow?
Bitcoin’s strength below $95,000 is making an investment case for select altcoins that are also pressuring their overhead resistance levels.
Bitcoin could tackle the $100,000 level in the next few days, and several altcoins are poised to stage their own rallies if BTC maintains its current bullish momentum.
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