Bitcoin, the wild beast of the financial world, is currently experiencing a bout of profit-booking near the $38,000 mark. The bulls, those brave souls who have ridden this untamed beast to new heights, have failed to break through the resistance and are now facing a small window of opportunity for the bears to strike back. The price has been pulled below $37,000, but fear not, for lower levels are likely to attract the buyers who have been waiting in the shadows.
The battle between the bulls and bears is reaching a fever pitch as we enter the final month of the year. Both sides are vying for a monthly closing in their favor, and this could lead to increased volatility in the days ahead. But amidst this uncertainty, one voice rings out with unwavering bullishness. Robert Kiyosaki, the author of Rich Dad Poor Dad, has once again proclaimed his faith in Bitcoin, gold, and silver, urging investors to abandon the “FAKE money system” of fiat currency.
So, what lies ahead for Bitcoin and its altcoin brethren? Will they bounce back from their strong support levels, or will the bears prevail? Let’s delve into the charts to find out.
– The S&P 500 Index continues its upward march, fueled by strong demand at higher levels. A minor correction or consolidation may be on the horizon, but as long as sentiment remains bullish, dips will be seen as buying opportunities.
– The U.S. Dollar Index is struggling to recover from its recent slump, with bears firmly in control. A break above the 20-day EMA would signal a possible end to the correction.
– Bitcoin is forming an ascending triangle pattern, with the path of least resistance pointing upwards. If the $38,000 resistance is broken, the next target is $40,000.
– Ether surged close to its overhead resistance but failed to break through. Profit-booking may lead to a deeper correction, but if lower levels continue to attract buyers, a climb to the overhead resistance zone is possible.
– BNB’s rejection at the 20-day EMA suggests bears are trying to take control. A slide to solid support levels may be in the cards, but buyers are likely to defend this zone.
– XRP bounced off the 50-day SMA but hit a wall at the 20-day EMA. Bears are attempting to flip the 20-day EMA into resistance, and a breach of vital support could lead to a gradual collapse.
– Solana turned down from immediate resistance, indicating bearish pressure. A head-and-shoulders pattern may form if the price breaks below the neckline, leading to a steep correction.
– Cardano failed to break above overhead resistance, tempting short-term traders to book profits. A slide to the 20-day EMA is expected, but if buyers defend this level, another attempt at breaking resistance may be on the horizon.
– Dogecoin saw solid selling at higher levels but found support at the 20-day EMA. A dip below this level could lead to a slump, while a rebound would suggest demand at lower levels.
– Chainlink broke above the downtrend line but failed to build momentum. The 20-day EMA remains a key support level, and a break below it could signal a bearish comeback.
– Bitcoin is witnessing profit-booking near $38,000, but lower levels are likely to attract buyers.
– The S&P 500 Index continues its upward march, with strong demand at higher levels.
– The U.S. Dollar Index is struggling to recover, with bears firmly in control.
– Ether surged close to its overhead resistance but faces profit-booking.
– BNB’s rejection at the 20-day EMA suggests bears are trying to take control.
– XRP bounced off the 50-day SMA but faces resistance at the 20-day EMA.
– Solana turned down from immediate resistance, indicating bearish pressure.
– Cardano failed to break above overhead resistance, tempting short-term traders to book profits.
– Dogecoin found support at the 20-day EMA but faces selling pressure at higher levels.
– Chainlink broke above the downtrend line but failed to build momentum.