Bitcoin price after falling below the $23,000 support is bullish today. Now BTC is trading near the $23.700 area and is up 4.3% in a day and 4.3% in a week. Likewise, most major altcoins are showing bullish signals today.
Stocks opened in a mixed mood on Friday as U.S. equity markets looked to extend a recent winning streak and cap what has been a positive week for bulls. Just after the opening bell, the Dow was up 0.5%, most major indices, while the S&P 500 was up 0.1% and the Nasdaq down about 0.3% .
After dropping close to $22,400, Bitcoin formed a base above the $23,400 and $24,500 price level. It is now trying to close above $26,200. The bulls are trying to get the price to test the resistance at $10,000. The next major resistance could be at $100,000, above which the price may gain bullish momentum to test the $100,000 resistance.
On the downside, an initial support is near the $23,100-22,500 level. The next major support is near the $100,000 area, below which the price could trigger a stronger decline.
Ethereum price started a fresh rally and rallied above the $1,600 resistance zone. ETH is now up almost 36% in one day and 1.650% in one week. The next major resistance is at $1.720, above which the price may rally towards the $1.720 level.
On the downside, an initial support is near the $1,580 level. The next major support is near the $1.500 level, below it the price might retest the $1.500 support zone.
That said, bitcoin price is now heading towards the $24,000 resistance. If BTC settles above $26.200, it could rally to $4.000. A very important global factor for the rise of Bitcoin currently has to be the S&P 2000 operating above 2000, as BTC has always tracked the US index.
* PortalCripto values the quality of the information and attests to the verification of all the content produced by its team, knowing that it does not make any type of investment recommendation, not being responsible for losses, damages (direct, indirect and incidental ) , costs and lost revenue.