🚀🚀🚀 #Bitcoin tips toward $70K, setting a path for TON, $STX , MNT and $MKR to follow

Bitcoin is attempting a breakout from a #bullish chart formation, potentially influencing altcoins like TON, STX, MNT, and MKR. Despite a minor 2% decline this week, Bitcoin's price has rebounded from its weekly low of $64,493, showing resilience among bulls. However, Coinbase warns of potential post-halving hurdles in Bitcoin's price action, historically indicating weakness in #CryptoMarkets during this period.

Bitcoin's drop may not dip below $50,000, says UTXO Management's Dylan LeClair, citing strong long positions at that level. Yet, he advises caution given crypto's unpredictable nature.

Meanwhile, altcoins shine, with Pantera Capital's Liquid Token Fund boasting a 66% Q1 2024 return. This success is attributed to increased DeFi token exposure and reduced Bitcoin and Ether allocations.

#Bitcoinprice Analysis:

- Bitcoin is consolidating within a symmetrical triangle pattern, with a rising 20-day EMA and positive RSI signaling a slight advantage for bulls. A breakout above the triangle could push Bitcoin towards $73,777 and $80,000, while a breakdown may lead to $59,000 and $54,298.

TONcoin Price Analysis:

- TONcoin is approaching overhead resistance at $5.69, hinting at a potential bullish reversal. However, a negative RSI divergence suggests possible consolidation or correction. A move above $5.69 could rally TON towards $7.09, while failure may pull back to the 20-day EMA and $4.72 support.

Stacks Price Analysis:

- Stacks is correcting within an uptrend, confined between moving averages. A breakout above $3.36 could signal a move towards $3.84, while failure may lead to a pullback towards $2.50 and $2.20 support. On the 4-hour chart, breaching the 50-SMA could rally towards $3.60, while failure may trigger selling pressure towards $2.90 and below.

Bitcoin's breakout attempts set a positive tone, but altcoins like TON and STX show potential for bullish momentum, with key resistance and support levels offering trading opportunities.

Source - cointelegraph.com