Bitcoin prices decreased from $11,482.44 on October 10; however, the bulls held the immediate support price at $11,178. That shows strength because the bulls did not expect for a deeper pullback to purchase.
Significantly, The bulls have pushed the price over the overhead resistance at $11,500. If the Bitcoin pair sustains this growth, an increase to $12,050 will be on the cards.
Moreover, the moving averages have completed a bullish crossover, and the relative strength index has advanced up 67, which implies bulls are in control.
If the momentum pulls up and the bulls push the price over $12,050, the Bitcoin pair could retest $12,460. A breakout of this level may continue the rise towards $14,000.
However, if the pair turns down from the current levels and falls under $11,178, it could signal aggressive shorting by the bears at higher levels. A break under the moving averages will change the advantage in favor of the bears.
XRP and ETH
The XRP is trying to break out of the overhead resistance at $0.26
XRP is trying to break out of the overhead resistance at $0.26. If the bears sink the price under the 20-day EMA ($0.247), the altcoin could fall to $0.24. Such a move will imply that the range-bound action is likely to resume for a few more days.
However, if the XRP pair breaks out and closes (UTC) over $0.26, it will complete an inverse head with a target goal of $0.300288.
Significantly, the upsloping 20-day EMA and the RSI in the positive territory suggest that the bulls have the upper hand.
However, the bullish view of a possible reversal will be invalidated if the pair turns down from the current levels and breaks under $0.24.
On October 10, Ether broke over $370, the 50-day simple moving average but could not reach the higher levels. On October 11, The most substantial altcoin formed an inside day candlestick pattern, but the good thing is that it closed (UTC) over the 50-day SMA.
The uncertainty resolved to the upside today, and the bulls are currently trying to drive the price over the overhead resistance at $395. If the bulls can pull this off, the ETH pair could increase to $488.134.
$360, the 20-day exponential moving average has begun to turn up, and the RSI has climbed over 61, which implies that the bulls have the upper hand.
If the pair turns down from $395 and breaks below the 20-day EMA, this optimistic view will be invalidated. Such a move could occur in several days of range-bound action.