#PowellRemarks #IsraelIranConflict #FOMCMeeting #BinanceAlphaAlert #bnb Key points:
Bitcoin has held above $104,000, but sustained selling could sink the price to $100,000.
Most major altcoins remain range-bound, but a few are threatening to break below the support levels.
BTC
$104,887
is witnessing a tough battle between the bulls and the bears near the 50-day simple moving average ($104,269). The bulls are trying to form a higher low while the bears are attempting to sink the price to the psychological support at $100,000.
Bitfinex analysts said in a market report on Tuesday that Bitcoin needs to stay above the $102,000 to $103,000 zone to start a recovery, provided geopolitical risks don’t intensify further. The analysts believe the current environment offers a “high-risk, high-reward opportunity for upside continuation if buyer confidence returns.”
Another bullish voice was that of CryptoQuant contributor Gaah, who said in a “Quicktake” blog post on Tuesday that the Index Bitcoin Cycle Indicators (IBCI) has stabilized near the 50% range, signaling a “neutral point in the market cycle.” Gaah added that Bitcoin was in a transitional phase and not in an exhaustion phase, leaving the door open for further upside.
Could buyers push Bitcoin toward $110,000, or will bears sink the price to $100,000? How are the altcoins set up? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
