Bitcoin faces resistance at the $35,000 level, but charts indicate that bulls are not ready to throw in the towel.
Bitcoin is taking a breather after this week’s strong rally, but select altcoins may be getting ready to breakout over the next few days.) has been trading above $33,600 for the past two days, indicating that the bulls are not rushing to the exit. After a sharp rally, if the price does not give up much ground, it may cause FOMO and ignite another round of buying.
In this case, if the price turns up from the current level and breaks above $35,280, it will signal the start of the next leg of the uptrend. The pair may then skyrocket to $40,000.) long wick on the Oct. 26 candlestick shows that the bears are aggressively protecting the minor overhead resistance at $1,855.The rising 20-day EMA and the RSI near the overbought zone indicate that bulls have the upper hand.
If they succeed, it will signal the start of a new up-move. The XRP/USDT pair could then soar to $0.71. This positive view will be negated in the near term if the price turns down and plunges below the 50-day SMA . That will indicate a range-bound action between $0.46 and $0.56 in the near term.) has been trading near the pattern target of $32.81 for the past few days. The bulls have not ceded ground to the bears, indicating that they anticipate another leg higher.
On the contrary, if the price turns up from $0.07, it will suggest that the sentiment has turned positive and every minor dip is being purchased. That could propel the price to $0.08.
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