The crypto market rally continues, but analysts are on the fence about whether BTC and ETH will slip back into range or push closer to higher-timeframe resistance levels.
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The crypto market rally continues, but analysts are on the fence about whether BTC and ETH will slip back into range or push closer to higher-timeframe resistance levels.
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Traders expect BTC price to venture into the $27,000 to $32,000 range now that Bitcoin looks to secure a daily close above its current range.
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BTC price is racing toward $24,000, but analysts warn that a lower support retest is needed to confirm the strength of the current breakout.
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The bear market is far from over, but according to Glassnode, several metrics suggest that Bitcoin capitulation already occurred.
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The crypto market capitalization pushed above $1 trillion after notable weekly double-digit gains from BTC, ETH and several large cap altcoins.
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BTC continues to sell-off, but analysts say investor sentiment could reverse when inflation peaks or traders feel that the situation with insolvent DeFi platforms is resolved.
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BTC on-chain metrics and technical indicators are trading near historical bottoms, but analysts say a new “macro catalyst” could prove the current range is not the bottom.
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Traders rejoice after BTC price spikes 7% to $21,800, but analysts say the macro downtrend is likely to prevail for the foreseeable future.
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Retail investors have been wary of buying the current BTC dip, but survey data shows that 55% of those already invested in crypto chose to HODL during the most recent volatility.
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BTC bulls are holding $20,000, but most traders are confident that the price will remain range-bound for at least six more months.
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