BTC price struggles at $21,000 as trader says 'top is in' for Bitcoin, Ethereum
Previous Days' Trips Above $21,000 Mark May Be Bitcoin's Last Yet, New Analysis Concludes .
Market Update
Bitcoin (BTC) continued to consolidate through the weekly close on October 30 as concerns about a deeper retracement loomed.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD circling levels just below $21,000 on the day.
The weekend's trading had produced a rapid return above the $21,000 mark, which was short-lived as Bitcoin bulls failed to deliver the volume needed to sustain levels higher.
Now Il Capo, a popular pseudonymous Crypto trader and analyst, has felt that a change in direction is finally due for Bitcoin and altcoins.
Altcoins themselves also performed well throughout the weekend, notably led by Dogecoin (DOGE), which is up another 25% in the last 24 hours at the time of writing and at six-month highs.
"In my opinion the top is for $BTC and $ETH, but some altcoins might pump more," Crypto's il Capo wrote in part of a new Twitter update, adding:
“Not entering new long positions and just trailing my stops in profits (altcoins). I will be fully TP soon. »
Profit taking has already been a hot topic in recent days, with on-chain indicators suggesting that the temptation to...
Previous Days' Trips Above $21,000 Mark May Be Bitcoin's Last Yet, New Analysis Concludes .
Market Update
Bitcoin (BTC) continued to consolidate through the weekly close on October 30 as concerns about a deeper retracement loomed.
BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD circling levels just below $21,000 on the day.
The weekend's trading had produced a rapid return above the $21,000 mark, which was short-lived as Bitcoin bulls failed to deliver the volume needed to sustain levels higher.
Now Il Capo, a popular pseudonymous Crypto trader and analyst, has felt that a change in direction is finally due for Bitcoin and altcoins.
Altcoins themselves also performed well throughout the weekend, notably led by Dogecoin (DOGE), which is up another 25% in the last 24 hours at the time of writing and at six-month highs.
"In my opinion the top is for $BTC and $ETH, but some altcoins might pump more," Crypto's il Capo wrote in part of a new Twitter update, adding:
“Not entering new long positions and just trailing my stops in profits (altcoins). I will be fully TP soon. »
Profit taking has already been a hot topic in recent days, with on-chain indicators suggesting that the temptation to...
What's Your Reaction?
