Are you just getting started in the world of cryptocurrencies and want to know what's going on with Bitcoin and other altcoins? You've come to the right place! This weekend, Bitcoin has surpassed the $70,000 mark, and this could be just the beginning. Do you think ETH, SOL, DOGE, and SHIB will take off as well? Let's take a look at the data and what it could mean for you.
Bitcoin (BTC) is up around 9% this week. Although it is facing resistance near $69,000, buyers are showing confidence and are not selling their positions as quickly. According to QCP Capital, the surge in the US equity markets and the fall in the Japanese yen are boosting risk sentiment ahead of the US elections, which could further benefit Bitcoin. Moreover, the SEC’s approval to list Bitcoin ETF options is adding an additional push to the market.
This has led to major altcoins showing signs of life. Let’s break down the most promising cryptocurrencies according to the charts:
Ethereum (ETH) broke out of the symmetrical triangle pattern, which indicates that bulls are taking control. If buyers push the price beyond $2,850, we could see a rise towards $3,400.
Solana (SOL) is approaching a major resistance at $164. If it breaks this level, it could rally to $189 and then $210.
Dogecoin (DOGE) has started a new uptrend. If it breaks the $0.15 resistance, we could see a rally to $0.18.
Shiba Inu (SHIB) has formed an inverse head and shoulders pattern. If it breaks above $0.000020, we could see a rise towards $0.000028.
And there you have it, folks. If the bullish momentum continues, we could be on the cusp of a major rally not just for Bitcoin, but for these altcoins as well. Keep your eyes peeled and your wallets ready, because the crypto market is on fire.
And you? Are you going to join the crypto party or do you prefer to watch from the sidelines? Tell us in the comments! 🚀💰