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Here are the weekly and monthly candle analysis of Bitcoin. BTC close the last 3 weekly candles above the support of $60,000. BTC will start a new rally now and will reach new all-time high in coming days.
The Monthly candle also close above $60,000 and this is the highest ever monthly close yet. This shows the strength of this bull market and we will see more upward movement for next couple of months. Bitcoin is bullish on higher time frames. Plan your trades accordingly.
The Monthly candle also close above $60,000 and this is the highest ever monthly close yet. This shows the strength of this bull market and we will see more upward movement for next couple of months. Bitcoin is bullish on higher time frames. Plan your trades accordingly.
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SOL reached the $250 resistance area. SOL is now at the rank 4 by marketcap and we may see some profit booking here. You can also book some profit from SOL position or increase your stop loss to $215 area. The next resistance is $280 and $300 area. Keep increasing your stop loss.
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BNB break the $600 resistance and continued the rally. BNB is now heading towards the all-time high resistance of $675-$690 area. We may see some profit booking near all-time high price. BNB need to break and hold above $700 to continue this run towards $800-$850 area. Increase your stop loss near $600 support.
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The total marketcap of altcoins is slowing picking the pace after the breakout. We will see slow upward movement in altcoin marketcap. Altcoins will give good rally once BTC stable in a range after this rally. Although altcoin marketcap is bullish and you can fill your bags in dips.
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Bitcoin is now holding above the support and also retest. The wicks showing price rejection and buyers aggressiveness at these levels. If BTC holds above this support then we see a test of $67,000 soon. Bitcoin taproot upgrade is going to implement on block height of 709,632 which is expected on 14 November. This is a major upgrade and we will see impact on price because of this.
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The total crypto marketcap is bouncing from the major support of $2.5 trillion area. The total crypto market is bullish as long as it holds above this major support level. The major resistance is $3 trillion and a breakout above this will give a good rally in whole crypto market. The next lower support is $2.25 trillion.
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The total marketcap of altcoins are now at the major support area. Altcoin marketcap is holding the support area and accumulation is going on. You can add some good coins in your portfolio near support area. The resistance is $1.7-$1.75 trillion area and after a break of this we will a rally towards $2 trillion area. The next support is $1.2-$1.25 trillion area.
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US Dollar Index (DXY) Update:
DXY breaks the resistance of 94.7 level and give a good rally. This is the reason behind BTC downtrend. The lower support for DXY is 95.5 and major support is 94.7 area. We will see a test of lower support in coming weeks. The resistance is 97.7 and 99.3 area. The local resistance is 96.8 and we may see downward movement after touching it.
Bitcoin and crypto market gives good rally when DXY test the lower support area. Keep an eye on DXY reversal.
DXY breaks the resistance of 94.7 level and give a good rally. This is the reason behind BTC downtrend. The lower support for DXY is 95.5 and major support is 94.7 area. We will see a test of lower support in coming weeks. The resistance is 97.7 and 99.3 area. The local resistance is 96.8 and we may see downward movement after touching it.
Bitcoin and crypto market gives good rally when DXY test the lower support area. Keep an eye on DXY reversal.