Bitcoin is looking positive, but the up move is likely to face stiff resistance above $72,000.
Bitcoin bulls are trying to push the price back inside the range, indicating that the markets have rejected the breakdown.
The S&P 500 Index is extending its recovery, boosting buying in Bitcoin and select altcoins in the near term.
Altcoins show compelling technical setups after Bitcoin price blew past $42,000 on December 4.
Bitcoin is likely to extend its stay inside the range as traders buy the dips under $60,000.
Bitcoin looks ready to blast above its all-time high, but traders should remember that vertical rallies are rarely sustainable.
Bitcoin is forming a bullish pattern, but the RSI shows a negative divergence, giving conflicting signals about the next directional move in the near term.
Bulls failed to hold Bitcoin price above $52,000, possibly marking the start of a short-term trend change in BTC and altcoins.
Bitcoin price struggles to trade above $60,000, and the bullish setup displayed by altcoins is also beginning to crumble. Is the bull market coming to an
Bitcoin’s rally above $100,000 has improved sentiment, triggering a strong recovery in several altcoins.
