Key points:
-
Bitcoin market participants expect resistance trendline breakouts, with nearby targets including $125,000.
-
Attention continues to focus on alternative tokens, while Bitcoin merges, Ether hits a seven-month high.
-
The latest market commentary says the rise across Altcoins is still there, and many have not replicated Ether’s rebound.
Bitcoin (BTC) Sunday’s weekly closing price was $18,500 as traders await a new rise in BTC price breakout.
Trader: Bitcoin price focuses on $125,000 breakthrough
From Cointelegraph Markets Pro and TradingView BTC/USD is higher after traveling below $117,000 on Friday.
Both retained most of their gains before the week, and with the merger taking over, it was still shy about the record high ever.
Now, the resistance trend line is hindering Bitcoin’s return to price discovery over $123,000, traders say.
“BTC is ready for big moves”, popular businessman Marcus Corvinus Tell X followers In the post of the day.
“Bitcoin moves within the triangle pattern and maintains strong support for around $116,000 to $117,000. Currently, it travels sideways, but not long.”
Corvinus uploaded a chart showing the trendline, indicating that the breakout will make BTC/USDT the next $125,000.
“If it breaks through support, the price could drop to $111,000 or less,” he added.
“This triangle is almost a breakthrough or collapse coming. Stay ready.
Rekt Capital, popular trader and analyst, is staring at a similar structure over the daily timeframe.
“Bitcoin remains within scope and consolidation continues to facilitate further capital inflows into altcoins,” he said. Comment On his own chart.
“But, break this lower high (black) in that range, and Bitcoin will challenge the breakthrough attempts of the high range.”
Ether races are 7 months high to weekly close
As CoIntelegraph reported, AltCoins returned to radar this week due to the Bitcoin merger.
Related: Can XRP prices reach $20? These charts say the “full cow” stage is still in
Particularly interested in is the largest Altcoin Ether (eth) and xrp(XRP), they are all outdoors High price forecast.
“Ethereum was resynchronized a long time ago with a macro range of $2200-$3900.” Summarize In part of X’s post, it includes charts that extend to the end of 2023.
Crypto trader, analyst and entrepreneur Michaël Vande poppe called it a “ETH/USD” rebound, “absolutely amazing.”
“Ethereum is the first person to move, and it has basically returned to its December 24 high. That means there is still a lot of room for upward.” debate On the weekend.
“However, most altcoins are still down 50-80% from their December 24 high, which means there is not much room for upside.”
ETH/USD traded for the first time for the first time since December 18, 2024.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
