- Bitcoin has been trading above $33,600 for the past two days, indicating bullish sentiment.
- The rally pushed Bitcoin’s dominance to 54%, the highest level in 30 months.
- Peter Brandt predicts Bitcoin may not reach new all-time highs until Q3 2024.
- Bitcoin price analysis shows resistance at $35,000 with a possibility of a minor correction.
- Ether price analysis indicates bullish sentiment with resistance at $1,855.
- BNB price analysis suggests a battle between buyers and sellers at $235.
- XRP price analysis shows a tough fight near $0.56 resistance.
- Solana price analysis suggests a potential rally to $38.79.
- Cardano price analysis indicates a struggle to start a strong relief rally above $0.28.
- Dogecoin price analysis shows aggressive buying by the bulls.
- Toncoin price analysis suggests consolidation between $1.89 and $2.31.
- Chainlink price analysis reveals resistance near $11.50.
- Polygon price analysis indicates hesitation to continue buying at higher levels.
Note: 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.
- Bitcoin (BTC) 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.
- That could push the markets further into overbought territory. However, such rallies are rarely sustainable. They eventually turn down and retest the breakout levels. Hence, Bitcoin’s drop to $32,000 can not be ruled out.
- The rally of the past few days pushed Bitcoin’s dominance to 54%, its highest level in 30 months. The rise in market dominance shows that Bitcoin is leading the charge higher, which is a positive sign. This suggests that traders are favorably viewing the cryptocurrency space and select altcoins may join the party soon.
- Veteran trader Peter Brandt said in a post on X (formerly Twitter) on Oct. 26 that Bitcoin’s bottom is in but he warns that new all-time highs may not happen until the third quarter of 2024. Meanwhile, Brandt predicts Bitcoin to enter a “chop fest.”
- Bitcoin is facing resistance at $35,000 but the bulls have not given up much ground. This suggests that the buyers may soon try to resume the up-move.
- Ether’s (ETH) long wick on the Oct. 26 candlestick shows that the bears are aggressively protecting the minor overhead resistance at $1,855.
- BNB (BNB) turned down from $235 on Oct. 24, indicating that the bears are active at this level.
- XRP (XRP) has been witnessing a tough battle between the bulls and the bears near the overhead resistance of $0.56.
- Solana (SOL) has been trading near the pattern target of $32.81 for the past few days.
- Cardano (ADA) has been trading above the $0.28 level for the past few days but the bulls haven’t been able to start a strong relief rally.
- Dogecoin (DOGE) has been in a strong recovery for the past few days, indicating aggressive buying by the bulls.
- Toncoin (TON) found support at the moving averages in the past few days but the bulls failed to start a strong rebound off it.
- Chainlink (LINK) has been facing selling near the $11.50 mark as seen from the long wick on the candlesticks of the past few days.
- Polygon (MATIC) broke above the $0.60 resistance on Oct. 22 but the bulls are struggling to maintain the up-move.