The bulls have stepped up their efforts to resume the up move in Bitcoin and select altcoins.
) bounced off its firm support, and the bulls are trying to push the price above the psychologically crucial level of $70,000. Several analysts believe the consolidation will resolve to the upside, and. In 2020, the bull market started 16 months before the halving and topped out 18 months after the event. If Bitcoin follows a similar pattern, Brandt expects the cycle top to be “in the $130,000 to $150,000 range.”between May 23 and June 2.
Time is running out for the bears. If they want to remain in the game, they will have to quickly drag the price below the triangle’s support line. That will open the gates for a possible drop to the critical support at $59,600.Ether has been holding above $3,730 for several days, signaling that the bulls are trying to flip the level into support.The upsloping 20-day EMA and the RSI in the positive zone suggest that the bulls have the upper hand.
If bulls want to prevent the downside, they will have to quickly push the price above $174. If they do that, the pair could rally to $189 and thereafter to $205. The bulls may find it difficult to conquer the $205 resistance.) has been trading below the 20-day EMA for the past few days, but the bears have failed to sink the price below the support line. This suggests that selling dries up at lower levels.The bulls will try to push the price above the moving averages.
This positive view will be invalidated in the near term if the price turns down and breaks below the 20-day EMA. The near-term trend will favor the bears if they can sink the TON/USDT pair below $6.The bulls will try to drive the price to the overhead resistance of $0.18. This is an important resistance to watch out for because a break and close above it will open the doors for a possible rally to $0.21.
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