Bitcoin remains stuck in a range but TON, LINK, MKR, and XTZ are trying to start an up-move.
Bitcoin tried to break out of its range last week, but the bulls could not sustain the higher levels. Bitcoin is back inside the range and is trading near the $26,000 level. The price action of the past few days has formed two successive Doji candlestick patterns on the weekly chart, indicating uncertainty about the next directional move.
for a spot Bitcoin exchange-traded fund. Former commission chair Jay Clayton sounded confident when he said in a recent interview that “an approval is inevitable.”In the near term, it is difficult to pinpoint a specific catalyst that could shake Bitcoin out of its range. The lack of clarity about Bitcoin’s next trending move has kept most major altcoins under pressure.
If bears want to seize control, they will have to sink and sustain the price below $24,800. This is going to be a tough task as the bulls are likely to defend the level with all their might. Still, if the bears prevail, the pair could plunge to $20,000. There is a minor support at $24,000 but it may not halt the decline.The bears tried to pull the price below the immediate support at $25,300 but the bulls held their ground.
Sellers are likely to have other plans. They will try to sink the price below $25,300 and challenge the vital support at $24,800.Toncoin is in an uptrend but the bears are trying to halt the up-move near the overhead resistance at $2.07.Both moving averages have turned up, indicating advantage to buyers but the overbought levels on the RSI suggest that a minor correction or consolidation is possible.
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