Hopes of a BTC ETF approval sent Bitcoin charging toward a new all-time high and several altcoins are also breaking out of bullish setups.
Биткойн (BTC) rose within a few steps of $63,000 today for the first time since April 18. The recent surge in the price may have been caused after various documents pointed to the eventual approval of a futures-based BTC ETF by the United States Securities and Exchange Commission. According to these documents, the regulator may be close to green lighting the application to list Valkyrie’s Bitcoin Strategy exchange-traded fund ETF for listing on Nasdaq.
Analysts pointed out that gold’s price had risen sharply leading up to the launch of the first U.S.-based gold ETF in 2004. После этого, the rally continued and gold’s price rose more than 300% since the ETF was approved, before forming a major top. The similarity between gold and Bitcoin being stores of value appear to have generated huge excitement for the launch of a Bitcoin ETF.
Traders seem to have aggressively accumulated Bitcoin before the announcement of a Bitcoin ETF. The Bitcoin futures open interest in the Chicago Mercantile Exchange hit a new all-time high on Oct. 14, surpassing the previous high of $3.02 billion made on April 14.
Could Bitcoin break above the all-time high and continue its northward journey and will altcoins also join the party? Давайте изучим графики топ-10 криптовалют, чтобы узнать.
BTC / USDT
Bitcoin formed a Doji candlestick pattern on Oct. 14, indicating indecision among the bulls and the bears above the $58,000 уровень. This uncertainty resolved to the upside today and the rally has resumed.
20-дневная экспоненциальная скользящая средняя ($52,868) is sloping up and the relative strength index (RSI) is in the overbought zone, suggesting that bulls are in control. тем не мение, the all-time high at $64,854 may prove to be a difficult hurdle to cross.
If the BTC/USDT pair turns down from this resistance, the first support to watch on the downside is the 20-day EMA. A strong rebound off this support will suggest that sentiment remains positive and traders are buying the dips.
That will increase the possibility of the resumption of the uptrend with the target at $75,000. The first sign of weakness will be a break and close below the 20-day EMA, which could result in a decline to the 50-day simple moving average ($48,514).
ETH / USDT
Эфир (ETH) отскочил от 20-дневной EMA ($3,479) октябрь. 13 and broke above the neckline of the inverse head and shoulders (ЧАС&S) pattern on Oct. 14. This completed the bullish setup which has a target objective at $4,657.
Both moving averages are sloping up and the RSI has broken above the downtrend line, suggesting that bulls are back in control. The ETH/USDT pair could now rally to $4,027.88 and then retest the all-time high at $4,372.72.
Вопреки этому предположению, if the price turns down from the current level or the overhead resistance and breaks below the neckline, это будет означать, что медведи продолжают продавать на ралли. The pair could then drop to the moving averages. Прорыв и закрытие внизу $3,257 will indicate that bulls may be losing their grip.
BNB / USDT
Binance Coin (BNB) broke and closed above the neckline on Oct. 13, completing an inverse H&S pattern. This bullish setup has a pattern target at $554.
The bears attempted to pull the price back below the breakout level but the long tail on the day’s candlestick indicates buying at lower levels. The moving averages have completed a bullish crossover and the RSI is in the positive zone, indicating that bulls have the upper hand.
If the price rises from the current level and breaks above $518.90, it will signal the resumption of the uptrend. The bears will have to pull and sustain the BNB/USDT pair below the moving averages to weaken the bullish momentum.
ADA / USDT
The bulls are attempting to push Cardano (ЕСТЬ) back into the symmetrical triangle pattern but the bears are not relenting. They are defending the support line and the 20-day EMA ($2.21) with vigor.
If the price turns down from the current level and breaks below $2.07, the ADA/USDT pair could drop to $2 and next to $1.87. A breach below this important level may pull the pair down to the pattern target of $1.63
Альтернативно, if bulls push and sustain the price above the 20-day EMA, the pair could rise to the resistance line of the triangle. A breakout and close above the triangle could clear the path for a rally to $2.47, followed by a move to $2.80.
XRP / USDT
XRP has been holding above the 20-day EMA ($1.08) for the past few days but the bulls have not been able to push the price to the overhead resistance at $1.24. This suggests a shortage of demand at higher levels.
Если цена развернется вниз и пробьет 20-дневную EMA, the XRP/USDT pair could drop to $1. This level could again attract buyers but if they fail to push the price above $1.24, the bearish momentum could pick up and the slide could deepen to $0.85.
Наоборот, if the price rises from the current level and breaks above $1.24, it will signal that the selling pressure may be easing. The pair could then rise to $1.41 and if bulls clear this barrier, следующая остановка может быть $1.66.
SOL / USDT
The failure of the bears to sink Solana (СОЛЬ) below the 50-day SMA ($147) in the past few days indicates accumulation by the bulls. The buyers are currently attempting to sustain the price above the downtrend line.
Если им это удастся, the SOL/USDT pair could rise to the 61.8% Уровень коррекции Фибоначчи на $177.80. This level may act as stiff resistance but if bulls overcome this hurdle, пара может вырасти до $200 and then retest the all-time high at $216.
The first sign of weakness will be a break and close below the 50-day SMA. Это может снизить цену до $116. This is an important level to keep an eye on because a break below it could intensify the selling.
DOT / USDT
В горошек (ТОЧКА) skyrocketed and closed above the $38.77 overhead resistance on Oct. 13, suggesting that the consolidation has resolved in favor of the bulls.
Медведи пытались вернуть цену ниже $38.77 октябрь. 14 and today but failed. This shows that buyers are aggressively defending the breakout level. Если быки поднимут цену выше $43.22, the DOT/USDT pair could retest the all-time high at $49.78.
If the price turns down from the current level and breaks below $38.77, пара может упасть до 20-дневной EMA ($34.84). A strong bounce off this support will suggest that sentiment remains positive and traders are buying on dips.
Альтернативно, if bears sink the price below the moving averages, пара могла упасть до $25.50. Such a move will suggest that the breakout above $38.77 may have been a bull trap.
Связанный: CFTC slaps Tether and Bitfinex with a combined $42.5 миллион штрафа
DOGE / USDT
The bulls are struggling to sustain Dogecoin (СОБАКА) выше 20-дневной EMA ($0.23), which suggests that buying dries up at higher levels. A minor positive is that bulls have not allowed the price to sustain below $0.22.
20-дневная EMA выровнялась, а RSI чуть выше средней точки., предлагая баланс между спросом и предложением. This equilibrium will tilt in favor of the bears if the $0.21 опорные трещины. That may result in a decline to $0.19.
If the price turns up from the current level, the bulls will try to push the price to the downtrend line. A breakout and close above this level will suggest that the decline could be over. The DOGE/USDT pair may next rise to $0.32 а затем в $0.35.
MOON / USDT
Terra protocol’s LUNA token is finding support at the 50-day SMA ($36.24) for the past three days but the bulls have not been able to drive the price above the 20-day EMA ($38.86). Это говорит о том, что спрос иссякает на более высоких уровнях..
The 20-day EMA is sloping down marginally and the RSI is just below the midpoint, indicating a minor advantage to bears. A break and close below the 50-day SMA could pull the price down to $32.50 and if this support cracks, исправление может углубиться до $25.
Наоборот, если быки поднимут цену выше 20-дневной EMA, the LUNA/USDT pair could pick up momentum and advance to $45.01 where bears may again try to mount a stiff resistance. A retest of the all-time high at $49.54 is likely if bulls overcome this obstacle.
UNI / USDT
Uniswap (UNI) rose above the moving averages on Oct. 13 and reached the neckline of the inverse H&S pattern on Oct. 14. The bears are currently attempting to stall the recovery at the neckline.
The moving averages are on the verge of a bullish crossover and the RSI has climbed into the positive territory, indicating that bulls have the upper hand. If the price rebounds off the moving averages, the bulls will make one more attempt to propel the UNI/USDT pair above the neckline.
Если им это удастся, it will complete the inverse H&S setup, starting a possible rally to $31.41 and later to the pattern target at $36.98. This bullish view will invalidate if the price continues lower and breaks below $22. The pair could then drop to the strong support at $18.
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