Welcome to Multi-Format Thursdays where we analyse the cryptocurrency market in both text & video formats.
Perfect rise all the way from the [$39,500-$40,650] liquidity area to the [$57,000-$57,500] liquidity area – absolute perfection.
From here, BTC’s move will be highly dependent on the ETF because price has been rising in speculation of an approval. A breakout from $57,500 would be the last big resistance before price discovery.
We’ve been relentlessly stating that as long as $3,200 is support for ETH then the next target would be $4,200 and that’s exactly what we are seeing come to fruition.
DOT rallied on the parachain news and has now turned $40 from resistance into support, next up is the previous high at $50.
As stated in the video, no interest until either $7.50 is tested or $14.10 is reclaimed on the weekly.
RUNE is the same story as SNX, interest will only arise on a test of $5.75 or reclaim of $11.50.
Too much playing around $150, bulls must show strength soon if they want another leg on the SOL rally.
Weak price action with $6.40 probable as a next step.
$4.90 is resistance and that sets the next target at $3.
Still in the same [$50-$60] range awaiting a breakout.
Holding support at nicely at $21.50 – maintaining the bullish market structure, target is $28 next.