Today is Tuesday, 26th October, and this is Cointribune’s Crypto analytics. You will learn about everything that’s been going on in the market, as well as what to expect next in our new article! If you’d like to read the previous instalment, please follow the link. Off we go!
The crypto market has seen a weighty BTC increase in the past 24 hours — the token has even reached the $63,500 level. Bulls are clearly preparing for another boost; however, there are bearish signs too. For example, there is a strong resistance zone lying ahead, as well as the recent ATH.
Bitcoin is changing hands at around $62,600 at the moment of writing. The market is in need of some good news, otherwise BTC might turn back to the $60,000 support level. You have to pay careful attention while trading in the coming weeks until bears and bulls come to a conclusion on Bitcoin’s fate. Since many seem to sell short rather, which, judging from the previous crypto winter, might be a very smart choice right now.
The overall conclusion is that unless Bitcoin jumps to another ATH, bears will make sure to drag it back down.
Ethereum and other altcoins continue to ride the bitcoin tide too. ETH is changing hands at around $4,200 at the moment of writing. This is likely to go on until Bitcoin takes a nosedive. But until then it’s an altseason!
Make sure to manage risks to prevent all possible losses. It’s okay to miss out on a profit sometimes as long as all your assets are safe. Ride the tide! The next crypto winter might be right around the corner.
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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
|BITCOIN (BTCUSD) ₿||$20,829.83||-0.95%|
|ETHEREUM (ETHUSD) Ξ||$1,199.41||0.12%|
|IMM. US (REIT)||$2,441.27||-0.16%|
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