Bitcoin and altcoins are projected to reenter bullish upside on longer timeframes, with the signs becoming clear despite consolidatory BTC price action.After putting in weekly lows of $62,400, BTC/USD reversed and managed to maintain higher ground, circling $63,500 at the time of writing.
Altcoins also performed well for “out-of-hours” trading, with the total altcoin market cap up around 1% on the day.“Alts bounced very nicely but still have to break the trend of setting week highs around monday to tuesday,” popular trader SkewSkew nonetheless suspected that sell-side pressure would step in on Bitcoin around range highs, keeping bulls from advancing much higher.
Others thus awaited the start of “TradFi” trading, including Bitcoin futures, for further cues as to crypto market trajectory.BTC/USD chart with CME Bitcoin futures open and close. Source: Daan Crypto Trades/XBitcoin entering most likely 2 weeks for new BTC price dip — AnalysisBTC/USD vs. IXIC chart. Source: Alan Tardigrade/X
An accompanying chart compared Bitcoin now to a pre-breakout period for the Nasdaq Composite Index in 2013. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Franklin Templeton lists Ethereum ETF on DTCC
Source: Digital Coin News (digitalcoinnews.net)
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