Bitcoin price remains flat but some altcoins are trying to break above their overhead resistance levels, indicating selective buying at lower levels.
with CNBC that he expects Bitcoin to end 2024 in the range of $100,000 to $120,000. He believes that Bitcoin is likely to witness price patterns seen during previous halving cycles.Let’s study the charts of the top-10 cryptocurrencies to find out.Bitcoin’s bounce off the 50-day simple moving average is fizzling out near the 20-day exponential moving average , indicating that higher levels are attracting sellers.
If bears sink the price below the immediate support at $28,861, the BTC/USDT pair may start a downward move to $27,500 and then to $26,000. Such a move will suggest that the pair may extend its stay inside the $24,800 to $31,000 zone for some time. The important level to watch on the upside is the 20-day EMA. If this resistance is scaled, the pair may rise toward $31,000. The bears are likely to face an acid test in the $31,000 to $32,400 region.) has been stuck between the moving averages for the past few days. This shows that the bulls are buying the dips to the 50-day SMA but they haven’t been able to kick the price above the 20-day EMA .
Conversely, if the price turns down and plunges below the 50-day SMA, it will suggest that the bears have the upper hand. The pair may then oscillate inside the large range between $1,626 and $2,000 for a while longer.
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