Bitcoin has surged to new all-time highs as a result of Bitcoin ETF approval possibilities, and several altcoins have also emerged from bullish setups.
For the first time since April 18, Bitcoin (BTC) surged to within a few cents of $ 63,000 yesterday. The most recent price increase is likely to be driven by several papers pointing to the US Securities and Exchange Commission’s ultimate approval of the upcoming BTC ETF.
Bitcoin Price Chart – Source: CoinMarketCap
According to analysts, the price of gold has grown dramatically, prompting the establishment of the first gold ETF in the United States in 2004. Following that, the boom proceeded, with the price of gold rising by more than 300 percent since the ETF’s inception, until reaching a high point. With the debut of the Bitcoin ETF, the similarities between gold and Bitcoin as value stores appear to have sparked a lot of interest.
On October 14, Bitcoin futures of open interest rates on the Chicago Mercantile Exchange reached a new record, exceeding the previous high of $ 3.02 billion set in April.
Also On October 14, Bitcoin formed a Doji candle pattern, indicating that bulls and bears were at odds over $ 58,000. The 20-day moving average ($ 52,868) is lower, while the relative strength index (RSI) is higher, indicating that bulls are in charge. The all-time high of $ 64,854 can, however, be a challenging barrier to conquer.
On October 13, Ethereum (ETH) broke over the head and shoulders inverse (H&S) neckline and broke above the 20-day EMA ($ 3,479). The bullish set was completed, with $ 4,657 as the target.
Ethereum Price Chart – Source: CoinMarketCap
The RSI is below the downtrend line and both moving averages are higher, indicating that the bulls have returned. The ETH/USDT pair can now combine up to $ 4,027.88 and attempt the maximum time at $ 4,372.72 every time.
On October 13, Binance Coin (BNB) broke and closed over the neckline, completing the inverse H&S pattern. The pattern target for this bullish set is $ 554. A resumption of the uptrend will be signaled if the price increases from its current level and falls below $ 518.90.
The bulls are striving to return the Cardano (ADA) to an equal triangle pattern, but the bears aren’t giving up easily. They fought tooth and nail to preserve the support line and the 20-day exponential moving average ($ 2.21) in place. If the price lowers from its present level and falls below $ 2.07, the ADA / USDT pair could drop to $ 2 and close to $ 1.87.
Cardano Price Chart – Source: CoinMarketCap
A few days ago, Ripple (XRP) has held more than 20 days of the EMA ($ 1.08) but the bulls were unable to move the price to a higher resistance level of $ 1.24. This creates a demand for shortages at higher levels. The XRP / USDT pair might rise to $ 1 if the price dips below the 20-day EMA.
In the last few days, the bears’ failure to dive Solana (SOL) below the 50-day SMA ($ 147) reveals a bulls’ collecting. Buyers are attempting to keep the price above the downtrend line at the moment. If successful, the SOL/USDT pair might rise to $ 177.80, which is the 61.8 percent Fibonacci retracement level.
On October 13, Polkadot (DOT) rallied to close above $ 38.77 resistance, indicating that the merger has calmed the bulls. On October 14 and today, the bears attempted but failed to recuperate the price below $ 38.77. This demonstrates that customers are zealous in their defense of the rest standard. The DOT / USDT pair might reach a high of $ 49.78 if bulls drive above $ 43.22.
Bulls are battling to feed Dogecoin (DOGE) over the 20-day exponential moving average ($ 0.23), implying that purchases will halt at higher levels. The bulls, on the other hand, did not allow the price to fall below $ 0.22. The bulls will attempt to drive the price to the downtrend line if the price rises from its current position. If you exit and close above this level, it means the downturn is coming to a conclusion. The DOGE / USDT pair could rise to $ 0.32 and then $ 0.35 in the near future.
DOGE Price Chart – Source: CoinMarketCap
Over the last three days, the 50-day SMA ($ 36.24) has provided support to Terra’s LUNA token, but bulls have been unable to push the price above the 20-day EMA ($ 38.86). This means that at higher levels, demand will dwindle. If the price breaks and closes below the 50-day SMA, the adjustment might reach $ 32.50, and if this support breaks, the adjustment could reach $ 25. The LUNA / USDT pair, on the other hand, could go up and down to $ 45.01 if the bulls run the price over the 20-day EMA.
On October 13, Uniswap (UNI) surged above the moving average and on October 14, reached the opposite H&S pattern line. The Bears are currently attempting to avoid a neckline recovery. Above the neckline, run a UNI / USDT pair. If it succeeds, it will complete the opposing H&S setup, with a potential rally commencing at $ 31.41 and a pattern goal of $ 36.98 later.
UNI Price Chart – Source: CoinMarketCap