Price analysis 10/2: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON
Bitcoin and select altcoins are looking strong at the start of October, but will the flashpan bullish momentum last?
Auto Added by WPeMatico
Bitcoin and select altcoins are looking strong at the start of October, but will the flashpan bullish momentum last?
The strength in the United States dollar index could keep Bitcoin and select altcoins under pressure in the near term.
Bitcoin and select altcoins are attempting to make a comeback as traders expect the Fed to hold rates steady during their meeting this week.
Bitcoin price is range-bound but several major altcoins such as XRP are showing signs of a potential breakdown.
The S&P 500 is attempting a recovery, but Bitcoin and select altcoins are struggling to break above their respective resistance levels.
After weeks of low volatility, Bitcoin bulls are trying to make a comeback, but the rise in the U.S. Dollar Index may limit the upside recovery.
Bitcoin’s record low volatility is also a sign that the next price breakout will be volatile, but everyone is guessing which direction the price will go and how it will…
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
Bitcoin bulls have failed to step in, increasing the chance for a retest of the $29,500 support.
The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term.