CandleFocus Crypto Chart Scan: BTC's Uptrend From $54K Looks Set to Resume, ETH Holds 200-Day Average
2024-10-14
Author: Content Editor
Bitcoin (BTC) has broken through a downtrend line from late September and is showing positive price action, suggesting that the upward move from early September is about to resume. BTC has risen over 2% to $64,300 in Asia and is expected to face resistance at $64,461 and $66,500 before a major resistance at $70,000. However, the price may retest the breakout point around $62,000-$63,000 before continuing to move higher. The rise in the dollar index has stalled, indicating a potential move higher in risk assets like BTC. Ether (ETH) is stuck within a triangular consolidation pattern, but could look to break out if BTC continues to move higher.
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