Bitcoin’s shallow pullback increases the prospect of a new all-time high in the short term and altcoins like ETH, 솔, MATIC and FTM could move higher while BTC prepares for its next move.
10 월. 15, news that a Bitcoin (BTC) 상장 기금 (ETF) could start trading as early as next week sent Bitcoin price to $62,933 but the rally has cooled off since then.
Some market participants believe that traders who bought the rumor of approval for a Bitcoin ETF product may sell on the news. Crypto trading firm QCP Capital said in an update that the approval of futures-based ETFs is unlikely to provide a long-term boost for Bitcoin prices similar to the one seen in the fourth quarter of 2020.
While high volatility cannot be ruled out in the near term, investors should focus on the major trend and not get caught in minor corrections that are part of the path to new all-time highs.
According to Foxbit founder João Canhada, his daughter has earned a 6,500% profit on the one Bitcoin gift she received when she was born in 2017. Although she couldn’t have traded the coin at such a young age, the returns show that patient investors who are not perturbed by a minor fall can end up with huge returns.
Could Bitcoin’s rally to a new all-time high pull altcoins along with it? Let’s study the charts of the top-5 cryptocurrencies that could outperform in the short term.
BTC / USDT
Bitcoin soared above the $58,000 resistance and the psychological mark at $60,000 10 월. 15. The bears are attempting to stall the up-move at $62,933 but the positive sign is that bulls have not given up much ground. This suggests that traders are not closing their positions after the recent up-move because they anticipate another leg up.
두 이동 평균이 모두 경사지고 상대 강도 지수 (RSI) 과매 수 영역에 있습니다., 황소가 통제하고 있음을 나타냅니다.. If the price turns up from the current level and breaks above the $62,933 ...에 $64,854 저항 영역, the BTC/USDT pair may rally to $75,000.
The immediate support to watch on the downside is $58,000. A break and close below this level could prompt short-term traders to book profits, pulling the price down to the 20-day exponential moving average ($54,336).
A bounce off the 20-day EMA will suggest that sentiment remains positive and traders are buying on dips. 상승세는 상승세를 재개하기 위해 한 번 더 시도합니다.. 반대로, a break and close below the 20-day EMA will suggest that the bullish momentum has weakened.
The pair has been rising in a steady uptrend on the 4-hour chart. The bears have not been able to sink and sustain the price below the 50-simple moving average since the pair broke above the symmetrical triangle.
가격이 20-EMA에서 반등하는 경우, 위의 휴식 가능성 $62,933 may increase because it will suggest that traders are not waiting for a deeper correction to buy. This bullish assumption will invalidate if bears sink and sustain the pair below the 50-SMA. Such a move could open the doors for a drop to $54,000 그리고 $52,290.
ETH / USDT
에테르 (ETH) break and close above the neckline on Oct. 14 completed the inverse head and shoulders pattern. The long wick on the Oct. 16 candlestick suggests that bears are attempting to stall the up-move in the $4,000 ...에 $4,027.88 존.
가격이 현재 수준에서 하락하면, the ETH/USDT pair could drop to the breakout level at the neckline. This is an important support for the bulls to defend. 가격이이 수준에서 반등하면, the bulls will again try to clear the overhead hurdle.
돌파 및 마감 $4,027.88 could clear the path for a rally to the all-time high at $4,372.72 and next to the pattern target at $4,657. 거꾸로, a break below the moving averages could sink the price to $3,257. The bears will gain the upper hand if this support is breached.
The bears are defending the psychological resistance at $4,000 while bulls are trying to keep the price above the 20-EMA. The RSI has dropped close to the midpoint and the 20-EMA is flattening out, suggesting a possible consolidation in the near term.
휴식과 마감 $4,000 could signal the resumption of the up-move. 거꾸로, a break below the neckline of the setup will be the first sign that the momentum may be weakening. 그런 다음 쌍은 $3,400.
SOL / USDT
솔라 나 (솔) broke out and closed above the downtrend line on Oct. 15 which is the first sign that bulls are attempting a comeback. The bears tried to pull the price back below the downtrend line on Oct. 16 하지만 실패.
If bulls sustain the price above the downtrend line, the SOL/USDT pair could rise to the 61.80% resistance at $177.80. This is an important level for the bears to defend because if bulls clear this hurdle, the pair could rise to the 78.6% 되돌림 수준 $194.60 and later retest the all-time high at $216.
이 가정과는 반대로, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it will suggest that traders are closing their positions on pullbacks. The pair could then drop to the critical support at $116.
The 4-hour chart shows that the pair has been trading between $156.36 과 $165.61 since breaking out of the downtrend line. If buyers propel and sustain the price above $165.61, 상승세가 재개 될 수 있습니다.
The first target is the overhead zone between $174.86 과 $177.79. 대안으로, a break and close below $156.36 could open the doors for a decline to $147.11. 그때까지, the pair may continue to consolidate in the tight range.
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MATIC / USDT
다각형 (매틱) has been trading in a large range between $1 과 $1.80 지난 며칠 동안. 20 일 EMA ($1.32) has started to turn up and the RSI has risen into the positive territory, indicating that bulls are attempting to gain the upper hand.
The MATIC/USDT pair could rise to $1.80 which is likely to act as a tough obstacle. 이 저항에서 가격이 떨어지면, 쌍은 20 일 EMA로 떨어질 수 있습니다.
A strong rebound off this support will suggest that sentiment has turned positive and traders are buying on dips. That will increase the possibility of a break and close above $1.80.
그럴 경우, the pair could start a new uptrend to $2.40 and then retest the all-time high at $2.70. 거꾸로, if the price turns down from the current level and breaks below the moving averages, 쌍은 미끄러질 수 있습니다 $1.20 그리고 $1.
두 이동 평균은 모두 경사지고 RSI는 양수 영역에 있습니다., suggesting that bulls have the upper hand in the short term. The bulls pushed the price above the overhead resistance zone at $1.45 ...에 $1.50 but selling at higher levels has pulled the price back into the zone.
가격이 20-EMA에서 반등하는 경우, the bulls will make one more attempt to resume the up-move. 돌파 및 마감 $1.63 집회에 대한 경로를 지울 수 있습니다 $1.80. This positive view will invalidate if the price turns down and breaks below $1.45.
FTM / USDT
Fantom’s FTM token is in a strong uptrend. 황소는 에서 브레이크 아웃 레벨을 성공적으로 방어했습니다. $1.94, indicating that sentiment remains positive and traders are buying on dips.
The upsloping moving averages indicate advantage to buyers but the negative divergence on the RSI is warning that the bullish momentum may be weakening. If bulls push the price above $2.45, the uptrend may continue, 다음 목표 목표는 $3.20.
반면에, 가격이 하락하면 $2.45, the FTM/USDT pair may drop to $1.94 and consolidate between these two levels for a few days. A break and close below the 20-day EMA ($1.85) may signal the start of a deeper correction.
The bulls are currently attempting to sustain the price above the descending channel. 그들이 그렇게 할 수 있다면, 쌍은 상승 할 수 있습니다 $2.45. This level may act as stiff resistance but if bulls overcome it, 상승세가 재개 될 수 있습니다.
대안으로, 가격이 채널 이상으로 유지되지 않는 경우, 수요가 더 높은 수준에서 건조된다는 것을 암시합니다. The pair may then continue to trade inside the channel. A break and close below the channel could pull the pair down to $1.50.
여기에 표현 된 견해와 의견은 전적으로 저자의 견해이며 반드시 Cointelegraph의 견해를 반영하는 것은 아닙니다.. 모든 투자 및 거래에는 위험이 수반됩니다, 결정을 내릴 때 스스로 조사해야합니다..
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