Bitcoin Attempts 60k Resistance Level

BITCOIN STRUGGLES TO BREAK PAST 60K RESISTANCE, SHOULD WE PREPARE FOR THE WORST THIS DECEMBER?

BTC TOP 3

FLIPPING 60K RESISTANCE

Is $100k Bitcoin possible this year?

For more than two weeks now, we’ve been chopping sideways within the $55k-$60k range and failing each attempt to break the $60k resistance.

Crypto Michael emphasized the significance of this resistance level as on the first half of this year, where we had that massive run-up in Q1 followed by a painful dump towards the end of Q2, we’ve flipped and crossed this $60k resistance-support level more than a handful times. Hence, this is the crucial level many traders and analysts have been watching closely before making a stand on the trend’s direction.

However, with the recent decline in the US Dollar Index, some have anticipated a flip on the crypto market, rooting still for a $100k Bitcoin by the end of the year.

But with the new variant scaring the whole world, everyone, everything, traditional markets to the stock market and even the cryptocurrency market are on edge.

“Was that the top?” “Are we still going to $100k?” “Should I see now?” — These are just a few of the questions going on everybody’s mind.

On the brighter side, however, ThatMartiniGuy, remains hopeful. He said if BTC surpasses $58.5k again this year, everything goes ape.

He also pointed out the Bitcoin daily chart saying we are about to get bullish on MACD. Having seen a potential similar pattern, he referenced the last time we saw that pattern formation was around the end of September, where Bitcoin rose from $41k to $66k, a massive 61% up! So, if we were to have the same price increase, that would make BTC’s price around $90k-$92k.

TheMoonCarl also had a slightly similar target. Analyzing the daily charts, he said Bitcoin is currently testing 20ma and 50ma resistance. Also having seen a fractal from previous price actions, he mentioned that the last time we broke both, we saw a massive bullrun, up by 50%. Hence, breaking these resistances simultaneously could potentially lead us to a similar 50% pump which would be $87k, roughly.

PlanB also stands firm on the $100k prediction. See his tweet below.

$100k BTC this 2021 still in play, PlanB

What do you think of their analysis? Are you still convinced we’re in a bull market, or are you thinking of selling soon?

BITBOY CRYPTO’S TOP 5 COINS

3 Coins that will 10-15x by December 31st

Cardano (ADA) – most bullish possible scenario is $15-$20.

Ripple (XRP) – can definitely go to $12-$15 in this bull run.

Cartesi (CTSI) – ETH L2 solution, if and when ETH pumps to where we think it’s going this December, with increasing gas fees, we’ll def see a pump to some ETH L2 projects.

2 Projects that have already ripped but will still continue pumping massively in this cycle

Avalanche (AVAX) – has projects that are pumping at the moment *Olympus Dao (OHM) and Wonderland (TIME)

The Sandbox (SAND) – we could see a potential price drop when Alpha comes out (buy the rumor, sell the news), but then we could also see a massive amount of adoption because of the level of interest in metaverse right now.

ALTS TECHNICAL ANALYSIS

MATIC/USD – starting to move upwards, beautiful retests, making higher lows. $1.80 is the important level, if it holds $1.80 area, it could pump up to $2.70.

MATIC/BTC – if it breaks out above 3500 sats, an impulse wave is likely. 2 opportunities: 3150 sats, or the flip at 3500 sats, then the target would be 5300 sats.

TLM/USDT – might be having some more sideways action before it continues to pump.

TLM/BTC – potential entry levels: 500 and 580 sats.

IOTA/BTC – showing a very clear path of sideways action for 2 years now. potential entry points: 2000 sats, 1560 sats.

IOTA/USDT – has the same feel with its BTC pair, has been retesting levels many times, no breakout or impulse waves yet. If we break and flip at around $1.51, then that might be the indicator for trend direction. But for now, we’ll have to be patient with IOTA.

ONE/BTC – 379 sats or 417 sats are potential bounces for support.

ONE/USDT – crucial support range: $0.21-$0.23. If lost, $0.17 is an interesting area for long positions.

VET/BTC – we are looking at sideways actions until we get compression, then switch the trend and start breaking out. Currently in a beautiful entry point if you want to get into alts.

VET/USDT – also back into support, but still waiting for confirmation from Bitcoin. If BTC confirms that the market is ready for continuation, that’ll be the moment that the alts will fire off.

NOTE: These predictions and analyses are likely only if Bitcoin remains stable. Once a critical/volatile move from Bitcoin happens, expect that price action for alts will also be destroyed for a little bit.

DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH.


ABOUT THE AUTHOR

Elisa A.

Elisa is our Head of Market Analysis at Rocket Crypto X

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