Bitcoin remains strong above its recent breakout level, but several major altcoins will be under pressure until BTC reveals its next move.
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Analysts say Bitcoin has started its journey toward a new all-time high and the sideways action from altcoins suggests traders are shifting funds into BTC.
31630Bitcoin and select altcoins are facing selling at higher levels, indicating that short-term traders may be booking profits after the recent rally.
50382Bitcoin has surged above the overhead resistance and that has pulled several altcoins higher.
33054Bitcoin bulls have set their sights on $50,000 and this renewed push is also boosting large and small-cap altcoin prices.
36145Historical data suggests that October is a good month for Bitcoin bulls, and the push above $47,600 on Oct.1 could be a signal of what's to come for BTC and altcoins.
37646A week-long pattern of daily lower highs suggests bulls will be unable to flip $43,000 to support and this could weigh on the fledgling recovery seen across many altcoins.
30536Bitcoin and most major altcoins have recovered from last week’s sell-off, but they are still facing selling at higher levels, suggesting that the market could remain range-bound for a few days.
31349Bitcoin and altcoins made a sharp downside move to their recent lows after news that China banned crypto trading surfaced.
34485Positive news about China’s Evergrande meltdown and the Fed’s intent to continue its current monetary policy catalyzed a strong recovery in the price of Bitcoin and altcoins.
27772Bitcoin and most major altcoins have dropped to their critical support levels, which is likely to attract strong buying from the bulls.
30093Bitcoin is sustaining above its immediate support, but several altcoins are showing signs of profit-booking.
47940Buyers continue to scoop up Bitcoin and altcoins on dips, a signal that there is strong demand at lower levels and that bullish momentum is building.
32880Bitcoin’s quick dip below $44,000 sent altcoin prices into a freefall and has some traders worried that the correction could deepen.
39178Altcoins are still flashing bullish signals but Bitcoin’s steady slide toward its swing low could put a damper on the market’s positive sentiment.
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