Positive news about the collapse of China Evergrande and the Fed’s intention to continue with its existing monetary policy has fueled a strong rally in bitcoin and altcoin prices.
CointelegraphBTC and altcoins could enter a short consolidation phase before retesting their breakout levels, a sign that the current price action could be a buying opportunity.
CointelegraphBulls set their targets on new highs now that the brief consolidation phase in BTC and altcoins appears to have ended.
CointelegraphBTC and altcoins are dropping to retest lower support levels and bulls have yet to buy into the current dip.
CointelegraphBTC and select altcoins dropped far below their strong support levels, a clear sign that the recent bullish momentum has weakened.
CointelegraphThe strength in the U.S. dollar may keep Bitcoin and select altcoins under pressure in the short term.
CointelegraphBTC and altcoins broke below their lower support levels, signaling that further downside is the most likely short-term outcome.
CointelegraphBitcoin and altcoins are attempting a recovery, but the bulls are likely to encounter stiff resistance at higher levels.
CointelegraphBitcoin and altcoins continue to face selling at higher levels, indicating that the bears are not willing to let go of their advantage.
CointelegraphBitcoin’s inability to hold above $40,000 has traders now targeting extreme lows in the $25,000 zone, a move that would be absolutely deadly for most altcoins.
Cointelegraph