6 hour ago
1 0
Bitcoin Stagnant In Descending Range; Altcoins Show Early Strength
Bitcoin is currently stable within a descending range, lacking strong directional movement. However, some altcoins are showing signs of strength, indicating potential early upward moves before BTC breaks out.
Key Resistance Levels: $90,588 and Descending Trendline
- Focus remains on the $90,588 level and the descending trendline for BTC.
- Upward movements below the descending trend are considered corrective.
- First support zone is between $83,822 and $82,477; a close below $82,477 signals further decline.
- A clear reversal confirmation is needed for significant upward moves.
- Breaking $90,588 and closing above $94,130 would indicate a shift to bullish momentum.
Lower Time Frame (LTF) Trends
- LTF shows less impulsive action, but overall structure holds.
- A deviation toward the 0.886 level is monitored as a potential entry point.
- Closing above $90,500 would invalidate the current bearish scenario and suggest an upward trend.
While BTC consolidates, some altcoins are beginning to outperform, such as XPL, suggesting potential upside in these assets.
