with CNBC that he expects Bitcoin to end 2024 in the range of $100,000 to $120,000. He believes that Bitcoin is likely to witness price patterns seen during previous halving cycles.Let’s study the charts of the top-10 cryptocurrencies to find out.Bitcoin’s bounce off the 50-day simple moving average is fizzling out near the 20-day exponential moving average , indicating that higher levels are attracting sellers.
If bears sink the price below the immediate support at $28,861, the BTC/USDT pair may start a downward move to $27,500 and then to $26,000. Such a move will suggest that the pair may extend its stay inside the $24,800 to $31,000 zone for some time. The important level to watch on the upside is the 20-day EMA. If this resistance is scaled, the pair may rise toward $31,000. The bears are likely to face an acid test in the $31,000 to $32,400 region.) has been stuck between the moving averages for the past few days. This shows that the bulls are buying the dips to the 50-day SMA but they haven’t been able to kick the price above the 20-day EMA .
Conversely, if the price turns down and plunges below the 50-day SMA, it will suggest that the bears have the upper hand. The pair may then oscillate inside the large range between $1,626 and $2,000 for a while longer.
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Source: CoinDesk - 🏆 291. / 63 Read more »