💸🏋️📢Bitcoin continues to face sellers at $109,000 even as most traders anticipate all-time highs and select altcoins rally at the start of the week✅🚨
🔑Key points:
👨❤️💋👨🌹Bitcoin is facing selling near $109,000, but the shallow pullback suggests the uptrend may resume🥀🥀.
🗾♏BNB and HYPE are showing strength, having broken above their immediate resistance levels.
👉💥BTC$107,220has started the week on a soft note, with the bears trying to pull the price below the $107,000 level. Bitcoin remains on track for a positive monthly close in June as long as it stays above $104,600. If that happens, it will only be the second occasion since 2020 that Bitcoin has closed June in the green, per CoinGlass data.🎀🚀
☘️🏋️Bitcoin’s failure to break out of the all-time high at $111,980 has not deterred investors from buying more. CoinShares data shows $2.2 billion in inflows into Bitcoin exchange-traded products last week✅.
💥🚨In addition to steady ETF inflows, Bitcoin treasury companies continued their purchases. Michael Saylor’s Strategy revealed the acquisition of 4,980 Bitcoin at an average price of $106,801, its 11th successive week of Bitcoin purchases. Similarly, Metaplanet CEO Simon Gerovich said in a post on X that the firm bought 1,005 Bitcoin at an average price of $107,601💥🗾.
🚀☘️Could Bitcoin stay above $106,000, or will bears pull the price below the level? How are altcoins likely to behave? Let’s analyze the charts of the top 10 cryptocurrencies to find out.🗾
👉The US Dollar Index (DXY) broke and closed below the 97.92 support on Wednesday, indicating that the bears have overpowered the bulls.💥
🚀🌹Ether’s
ETH$2,483 recovery is facing selling near the 50-day SMA ($2,534), indicating that the bears are active at higher levels.👨❤️💋👨
♉🎀XRP $2.2has been stuck inside the $2 to $2.65 range for the past several days, indicating buying near the support and selling close to the resistance.🥀🏋️
🎀🥀BNB$655.8 broke above the resistance line of the descending channel pattern on Sunday, suggesting that the correction may be over.🌹♉Dogecoin
🗾👉DOGE$0.1646has recovered to the 20-day EMA ($0.17), which is the first obstacle to watch out If the price turns down sharply from the 20-day EMA, the DOGE/USDT pair risks a break below the $0.14 support. If that happens, the selling could accelerate, and the pair may tumble to $0.10.
✅☘️On the contrary, a break and close above the 20-day EMA suggests the pair may swing between $0.14 and $0.21 for some time. Buyers will gain strength after they propel the pair above the $0.21 overhead resistance.🔥.