Bitcoin’s shallow pullback increases the prospect of a new all-time high in the short term and altcoins like ETH, 溶胶, MATIC and FTM could move higher while BTC prepares for its next move.
在十月. 15, news that a Bitcoin (比特币) 交易所买卖基金 (交易所买卖基金) 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
比特币飙升至 $58,000 resistance and the psychological mark at $60,000 在十月. 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.
两条移动均线均向上倾斜，相对强度指数 (相对强弱指数) 处于超买区, 表明多头处于控制之中. If the price turns up from the current level and breaks above the $62,933 至 $64,854 阻力区, 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. 多头然后将再次尝试恢复上升趋势. 反之, 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.
如果价格从 20-EMA 反弹, 突破的可能性 $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 然后到 $52,290.
ETH / USDT
以太的 (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 至 $4,027.88 区.
如果价格从当前水平下跌, the ETH/USDT pair could drop to the breakout level at the neckline. This is an important support for the bulls to defend. 如果价格从这个水平反弹, the bulls will again try to clear the overhead hurdle.
突破并在上方收盘 $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. 反过来, 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.
上方休息和收盘 $4,000 could signal the resumption of the up-move. 反过来, a break below the neckline of the setup will be the first sign that the momentum may be weakening. 然后这对货币可能下跌至 $3,400.
SOL / USDT
索拉纳 (溶胶) 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 但失败了.
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% 回撤水平 $194.60 and later retest the all-time high at $216.
与此假设相反, 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 和 $165.61 since breaking out of the downtrend line. If buyers propel and sustain the price above $165.61, the uptrend may resume.
The first target is the overhead zone between $174.86 和 $177.79. 或者, 休息并在下方关闭 $156.36 could open the doors for a decline to $147.11. 直到那时, the pair may continue to consolidate in the tight range.
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MATIC / USDT
多边形 (马蒂奇) has been trading in a large range between $1 和 $1.80 在过去的几天里. 20天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. 如果价格从这个阻力位下跌, 该货币对可能跌至20天均线.
A strong rebound off this support will suggest that sentiment has turned positive and traders are buying on dips. 这将增加突破并在上方收盘的可能性 $1.80.
如果发生这种情况, the pair could start a new uptrend to $2.40 and then retest the all-time high at $2.70. 反过来, 如果价格从当前水平下跌并跌破移动平均线, 这对可以滑到 $1.20 然后到 $1.
两条移动均线均向上倾斜，RSI处于正区域, suggesting that bulls have the upper hand in the short term. The bulls pushed the price above the overhead resistance zone at $1.45 至 $1.50 but selling at higher levels has pulled the price back into the zone.
如果价格从 20-EMA 反弹, the bulls will make one more attempt to resume the up-move. 突破并在上方收盘 $1.63 could clear the path for a rally to $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. 多头成功捍卫了突破水平 $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, 下一个目标是 $3.20.
另一方面, 如果价格从 $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. 如果他们能够做到这一点, 这对可能上升到 $2.45. This level may act as stiff resistance but if bulls overcome it, the uptrend may resume.
或者, 如果价格未能维持在通道上方, 这将表明需求在更高水平上枯竭. 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.
这里表达的观点和观点仅是作者的观点，不一定反映Cointelegraph的观点。. 每笔投资和交易动作都涉及风险, 您在做出决定时应该进行自己的研究.