Bitcoin kicked off the week with notable strength, pushing towards resistance levels of $109,588 to $111,980. This upward momentum appears influenced by optimistic expectations from recent US-China trade talks. Trader Cas Abbe suggested that a significant move could be in store for Bitcoin, with a potential rise pushing it to $110,000 and threatening $15.11 billion in shorts set to be liquidated if that happens. Conversely, a downturn could risk liquidating $9.58 billion in long positions. Some analysts like Swissblock expect a retreat to $104,000, while Mickybull Crypto highlights a possible drop to $101,500.
Shifting focus to other cryptocurrencies, the S&P 500 Index extended its recovery, but resistance may emerge between 6,000 and 6,147. If sellers gain strength, prices could fall to around 5,767.
The US Dollar Index (DXY) is attempting recovery but faces challenges at significant levels. A drop below 97.92 could resume its downtrend, pushing prices potentially lower to 95.67.
Bitcoin’s recent price action has formed an inverted head-and-shoulders pattern that could indicate a rise towards $146,892 if it breaks above the neckline near $112,700. A decline below the 20-day EMA of $105,296 could instead lead to a drop to $100,000, where buyers are likely to step in to defend.
Ether has been trading within a range between $2,323 and $2,738. Sustained movement above the 20-day EMA could see Ether rise towards $3,000, while a slip below $2,284 could see it fall towards $2,100.
XRP has also shown mixed trading, remaining between $2.00 and $2.65, with potential to either break above or retest a vital support at $1.61.
Other altcoins such as BNB and Solana are displaying similar patterns with oscillating prices. Dogecoin shows shaky support around $0.16, while Cardano faces resistance near $0.69, putting it at risk if it drops below $0.60.
Lastly, Hyperliquid (HYPE) recently broke above a symmetrical triangle, signaling a possible bullish continuation. A sustained movement above this pattern could target $42.50, with sellers attempting to halt the rise at that level. If there’s a pullback below the triangle, it suggests a potential bull trap with prices reverting toward $30.50.
Shifting focus to other cryptocurrencies, the S&P 500 Index extended its recovery, but resistance may emerge between 6,000 and 6,147. If sellers gain strength, prices could fall to around 5,767.
The US Dollar Index (DXY) is attempting recovery but faces challenges at significant levels. A drop below 97.92 could resume its downtrend, pushing prices potentially lower to 95.67.
Bitcoin’s recent price action has formed an inverted head-and-shoulders pattern that could indicate a rise towards $146,892 if it breaks above the neckline near $112,700. A decline below the 20-day EMA of $105,296 could instead lead to a drop to $100,000, where buyers are likely to step in to defend.
Ether has been trading within a range between $2,323 and $2,738. Sustained movement above the 20-day EMA could see Ether rise towards $3,000, while a slip below $2,284 could see it fall towards $2,100.
XRP has also shown mixed trading, remaining between $2.00 and $2.65, with potential to either break above or retest a vital support at $1.61.
Other altcoins such as BNB and Solana are displaying similar patterns with oscillating prices. Dogecoin shows shaky support around $0.16, while Cardano faces resistance near $0.69, putting it at risk if it drops below $0.60.
Lastly, Hyperliquid (HYPE) recently broke above a symmetrical triangle, signaling a possible bullish continuation. A sustained movement above this pattern could target $42.50, with sellers attempting to halt the rise at that level. If there’s a pullback below the triangle, it suggests a potential bull trap with prices reverting toward $30.50.
