The bitcoin (BTC) price is still trading just below $35,000, a significant resistance on the road to further recovery. The bulls are once again putting the pressure on but are having a hard time at the 200-moving average on the 4-hour chart.
Bitcoin (BTC) price above 50-MA with small bullish divergence
Yesterday morning we saw bitcoin launch another attack on the USD 35,000 resistance. However, that attempt resulted in another rejection with a drop back to USD 33,500. From there, the bulls managed to push BTC up again to make another attempt this afternoon. XRP is well known in crypto.
Here we see a slight bullish divergence on the 4-hour chart. The price was not able to break out for the time being and has approximately the same top as yesterday morning’s test. However, the Relative Strength Index (RSI) shows a higher top, albeit a small difference. Still, this could be a first sign that the price may break out now that momentum appears to be turning more positive.
If it succeeds, the next obstacle immediately lies at $35,200: The 200-MA on the 4-hour chart. Since bitcoin’s massive correction in May, the price has not risen above this MA after three tests. We’ll know soon enough if it finally works this time!
Polkadot (DOT) excels with nice rise
If we compare the bitcoin price with 24 hours ago, there is not much difference. BTC is now worth 1.5% more than 24 hours ago. The same goes for ethereum (ETH) which is now worth $2,341. Polkadot (DOT), on the other hand, excels within the top 10. Uniswap UNI is well known in crypto.
DOT, the number 9, is in fact almost 8% in the plus! Furthermore, we see solana (SOL) slowly rising towards the top 10 after gaining 8.6% in value again. The biggest climber in the top 100 is axie infinity (AXS). That altcoin is in the plus with no less than 46.6%. Harmony (ONE) also stands out with an increase of 32%. Not a bad day at all for the smaller altcoins!