Bitcoin is making waves again, but it’s not all smooth sailing. The crypto giant is wrestling with the 200-day simple moving average, hovering around $84,000. Bulls are holding their ground, refusing to let the bears take control. Ryan Lee from Bitget Research says a weekly close above $81,000 could show Bitcoin’s resilience. But beware, if Bitcoin dips below $76,000, selling might pick up speed.
Markus Thielen from 10x Research isn’t convinced of a strong Bitcoin comeback just yet. He sees market indecision rather than a clear bullish trend. Meanwhile, Timothy Peterson offers a glimmer of hope, pointing out that April and October often bring significant gains for Bitcoin. Could this mean a new all-time high by June?
As Bitcoin battles resistance, other cryptocurrencies are hinting at an altcoin season. BNB, TON, GT, and ATOM are showing signs of life. BNB is recovering from a dip, facing resistance at the 50-day SMA. If it breaks through, a rally to $686 could be on the cards. But if it falters, it might tumble to $550.
Toncoin is also on the move, bouncing back from $2.35 and eyeing the 50-day SMA. A break above could see it climb to $4 and beyond. However, if it slips below the 20-day EMA, it might head back toward $2.50.
Gate Token is playing it cool with a symmetrical triangle pattern. A breakout could send it soaring to $24 or even $26. But if it stays within the triangle, the bears might regain control.
Cosmos is breaking free from selling pressure, crossing the 20-day EMA. A close above $5.15 could trigger a rally to $6.50. Yet, if it falls below the 20-day EMA, it might sink to $3.50.
In this crypto rollercoaster, Bitcoin’s next moves will be crucial. Will it break through resistance and lead the charge, or will altcoins steal the spotlight? Keep your eyes peeled as the crypto market unfolds its next chapter.
Remember, investing in crypto is risky business. Do your research before diving in!
