A strong Bitcoin consolidation near $25,000 suggests bulls are sticking to their positions in anticipation of a breakout at new 2023 highs.


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It added more than 11% last week and is trading near decisive resistance at $25,000. Equipment indicators for monitoring tools showed in its latest update that high-volume traders are “thinning” high resistance, which could trigger a spike. As prices rise, speculators may panic, and the whales may take advantage of the opportunity to sell their accumulations at lower levels.

Every uptrend features multiple setbacks, and Bitcoin is no exception. However, price action over the past several months shows a larger fundamental pattern, which has been reversed. If that happens, Bitcoin will signal a possible social shift.

There are very few times when all indicators are bullish. If dealers wait for that, they could miss out on a big chunk of the meeting. Therefore, it is advisable to consider pricing practices carefully and trade according to liquidity management principles. Generally, successful strategies are simple and easy to follow.

Can Bitcoin and select altcoins continue to outperform the US equity market in the near term? Let’s study the charts to find out.

The S&P 500 ( SPX ) index rose above the 20-day exponential moving average (EMA) at 4,080 on February 10, but the bulls failed to push the price into higher resistance at 4,200. This spurred the bears, which pulled the price below the 20-day EMA on February 17. The slight positive for the bulls is that the lower levels attracted more buying as seen by the long tail of the intraday candle.

The 20-day EMA is hovering, and the Relative Strength Index (RSI) is near the midpoint, suggesting a few days of consolidation. The index may hover between the uptrend line and 4,200 for some time.

Trading within the range is usually volatile and volatile. If the bulls consolidate a price above 4,200, the index may again begin to move higher. There is resistance at 4,300, but if the bulls don’t let the price drop below 4,200 during the next correction, the index could reach 4,500.

Contrary to this assumption, if the price breaks and breaks below the uptrend line, the index would fall to 3,764.

The US Dollar Index (DXY) broke through and closed above a wedge pattern on February 16. The moving average is about to complete a bullish crossover, and the RSI is near 57, indicating that the bulls are looking forward to a comeback.

However, bears do not give up easily. They will try to pull price back below the moving average and hold aggressive bulls. If they do, the index could slip first to 102.58 and then to 101.29.

Conversely, if the bulls don’t let the price break below the moving average, it suggests buying on the dip. The index is likely to initiate a rise in support to the 38.2% Fibonacci retracement level of 105.52 and then the 50% retracement level of 106.98.


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It is trading near high resistance at $25,211 over the past four days. Although the bears successfully defended the level, the bulls did not give up. They then jumped at this point on February 20 buying at lower levels.

Typically, the combination adjacent to the highest solid thickness turns out to be the highest. A rising moving average and RSI above 65 also indicates that bulls are in control. If the price breaks and holds above $25,250, the BTC/USDT pair may gain momentum. No major conflicts up to $100,000; Therefore, the trip can be conducted in a short time.

First support is at the 20-day EMA ($23,218) and then at $22,800. Traders should quickly pull price below this support to weaken the bullish momentum. So the couple could part ways with $250,000.

Customers pushed Ether

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Above high resistance of $1,680 on February 17 and the bears thwarted efforts to drag the price below the breakout level.

Source: CoinTelegraph