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<p>In the latest analysis by Crypto Capital Venture, the current state and potential future movements of <a href="https://captainaltcoin.com/?s=Bitcoin&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">Bitcoin </a>and Cardano were examined.</p>
<p>The analyst shared intriguing patterns and indicators that suggest major market movements may be on the horizon.</p>
<h2 class="wp-block-heading" id="bitcoin-s-mixed-price-action">Bitcoin’s Mixed Price Action</h2>
<p>Bitcoin’s price struggle represents a struggle between buyers and sellers. However, the weekly chart is giving some hope as BTC is seen returning to the top of the Fibonacci bull market zone, a bullish pattern that has been displayed in previous cycles.</p>
<p>The Relative Strength Index (RSI) on the weekly chart has cooled down from overbought levels, currently hovering around 54. This reset to the mid-range area post-halving is reminiscent of previous cycles and could indicate substantial upside potential.</p>
<p>On the daily chart, an inverse head and shoulders pattern is forming, though not yet confirmed. The right shoulder is attempting to form, with a potential neckline of around $72,000.</p>
<p><strong><em>Read more: <a href="https://captainaltcoin.com/polkadots-dot-price-ready-to-fly-to-12-heres-how/" target="_blank" rel="noopener noreferrer nofollow">Polkadot’s DOT Price ‘Ready to Fly’ to $12 – Here’s How</a></em></strong></p>
<p>This formation, if completed, could suggest a $9,000 upside target. However, the battle between bulls and bears is intensifying at key Fibonacci retracement levels and moving averages.</p>
<p>Bitcoin needs to break above its 20-day average price of around $63,600 and its 50-day average price of $66,400 before investors get more confidence about its price going up.</p>
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<h2 class="wp-block-heading" id="cardano-s-potential-rally">Cardano’s Potential Rally</h2>
<p>Cardano (ADA) looks like it might be ready to kick off a rally. ADA has been trading in a tight range since March as seen on the daily chart. But now its price has broken above 20-day average price, and the next important level to watch is the 50-day average price around $0.43.</p>
<p>The weekly chart for <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="Cardano" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> presents even more compelling evidence of a possible surge:</p>
<ol>
 <li>The Stochastic RSI has been oversold since April, a condition that has historically preceded meaningful upward moves.</li>
 <li>The RSI has completely reset from overbought levels in late 2023, suggesting room for upside potential.</li>
 <li>The MACD histogram has been pivoting since April, slowly making its way back up.</li>
</ol>
<p>These technical signs point to the possibility that ADA is about to make a substantial increase, as does Cardano’s track record of shocking investors with unexpected rallies.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-bulls-and-bears-in-tug-of-war-as-cardano-ada-primes-for-potential-explosion/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Bulls and Bears in Tug-of-War as Cardano (ADA) Primes for Potential Explosion</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Bulls and Bears in Tug-of-War as Cardano (ADA) Primes for Potential Explosion

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Ďalšie články zverejnené 3. 7. 2024

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