Bitcoin's lackluster price action sparks buyer interest in LINK, FIL, SNX, and THETA
LINK, FIL, SNX and THETA start bullish as Bitcoin braces for volatile price move.
Price analysis
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Bitcoin (BTC) is struggling to overcome the overhead resistance at $31,000, but a minor positive is that the bulls have not allowed the price to dip below the $29,500 support. This suggests that a catalyst may be needed for the price to break out of its range.
From a macro perspective, the July 25-26 Federal Reserve meeting is an important event to watch. The FedWatch tool shows a 99.2% probability of a 25 basis point rate hike at the meeting. If that happens, the markets might not witness a knee-jerk reaction, as the upside appears to have been priced in. However, any surprise move by the Fed could push the price out of the range.
Crypto Market Data Daily View. Source: Coin360Several analysts expect the range to break soon, but there is no consensus on the direction of the breakout. If the price falls below the range, analysts expect a significant drop. Some are even predicting a drop closer to $20,000.
If Bitcoin goes up, some altcoins could attract buyers. Let's study the charts of the top 5 cryptocurrencies that could turn positive over the next few days.
bitcoin price analysisBitcoin has been stuck below the 20-day exponential moving average ($30,036) for the past few days, but a positive sign is that the bears have been unable to drive the price down to the 50-day simple moving average ($28,979).
BTC/USDT daily chart. Source: TradingViewThis suggests that the bulls have...
LINK, FIL, SNX and THETA start bullish as Bitcoin braces for volatile price move.
Price analysis
Join us on social networks
Bitcoin (BTC) is struggling to overcome the overhead resistance at $31,000, but a minor positive is that the bulls have not allowed the price to dip below the $29,500 support. This suggests that a catalyst may be needed for the price to break out of its range.
From a macro perspective, the July 25-26 Federal Reserve meeting is an important event to watch. The FedWatch tool shows a 99.2% probability of a 25 basis point rate hike at the meeting. If that happens, the markets might not witness a knee-jerk reaction, as the upside appears to have been priced in. However, any surprise move by the Fed could push the price out of the range.
Crypto Market Data Daily View. Source: Coin360Several analysts expect the range to break soon, but there is no consensus on the direction of the breakout. If the price falls below the range, analysts expect a significant drop. Some are even predicting a drop closer to $20,000.
If Bitcoin goes up, some altcoins could attract buyers. Let's study the charts of the top 5 cryptocurrencies that could turn positive over the next few days.
bitcoin price analysisBitcoin has been stuck below the 20-day exponential moving average ($30,036) for the past few days, but a positive sign is that the bears have been unable to drive the price down to the 50-day simple moving average ($28,979).
BTC/USDT daily chart. Source: TradingViewThis suggests that the bulls have...
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