Bitcoin and altcoins saw a shallow rebound after yesterday’s brutal sell-off to new multi-month lows.
The strong bounce in Bitcoin and select altcoins shows solid demand at lower levels, suggesting traders are buying the current dip.) fell to its lowest level since February, indicating panic selling among investors. However, Blockstream founder and CEO Adam Back said in a post on X that drawdowns are a “normal bull market pattern.” He said that traders should
If the price turns down from the 20-day EMA, the bears will have another go at the $56,552 to $53,485 support zone. If this zone cracks, the BTC/USDT pair could slide to $50,000. This negative view will be invalidated in the near term if the bulls push and sustain the price above the 20-day EMA.Aggressive selling by the bears pulled the price to the support of the range at $2,850 on July 5.
If the price turns down from the 20-day EMA, it increases the risk of a breakdown. If that happens, the SOL/USDT pair could decline to $100. The advantage will tilt in favor of the bulls on a break above the 50-day SMA.) nosedived below the $0.46 support on July 4 and followed it up with another solid down move below $0.41 on July 5.The long tail on the candlestick shows that the bulls purchased the dip and are trying to maintain the price above $0.41.
The bulls will have to drive and sustain the price above the 20-day EMA to suggest that the bears may be losing their grip.Toncoin turned down from $8.17 on July 3, signaling that the bears are fiercely protecting the overhead resistance at $8.29.The selling increased after the price slipped below the 20-day EMA on July 4. The bears pulled the price below $6.77 on July 5 but are struggling to sustain the lower levels. This suggests that the bulls are buying the dips near the $6 support.
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