Bitcoin bullish outlook intact on touching $40,000 again, but Glassnode’s SOPR hints at healthy correction
Bitcoin boasts of a nearly 30% rebound after touching the major support at $30,000 early this week. Despite the massive liquidations in the futures market, which saw over $1.5 billion wiped off, BTC presented a strong bullish front, bringing down the seller congestion at $36,000 and $38,000.
Dash price on the verge of a collapse as indicator flashes several sell signals
It seems that it’s time for Dash to experience another pullback after a massive breakout in the past week. An indicator has just flashed a significant sell signal on the daily chart which could translate into a correction in the short-term.
BCH/BTC Price Analysis: Daily upside extension in the making
The bulls have stepped back into the ring, stopping the bears in their tracks following a swift and sharp downside correction. The following illustrates where the next daily swing-trading opportunity could come about following a break and retest of the 4-hour structure.
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Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.
Litecoin poised for double-digit decline after breaking ascending trendline
Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.
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Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC
21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
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