After a brief correction, Bitcoin and altcoins are trying to resume their respective uptrends, indicating that bulls remain in control.
) price climbed by 15% last week and 10.45% the week before. The S&P 500 Index dropped 2.53% last week and 2.39% the week before. This shows that Bitcoin has decoupled from the S&P 500 Index in the short term and may chart its own course.
If the price turns down sharply from the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then again try to sink the price below the support zone. If they succeed, the index could plummet toward 3,800. This negative view will invalidate in the near term if the price rises and sustains above the 20-day EMA.The U.S. dollar index rebounded off the 50-day simple moving average on Oct.
If buyers kick the price above $1,865, the pair could rally to $2,000. The bears are likely to guard this level with vigor. However, the bears are unlikely to give up easily. They will try to pull the price back below the 20-day EMA. If they manage to do that, it may trap several aggressive bulls. The pair may then remain stuck between $0.46 and $0.56 for a few more days.The SOL/USDT pair resumed its uptrend on Oct. 30 with a break above $33.90. The bulls will next try to push the price to $38.79. This level is expected to act as a major resistance but if buyers bulldoze their way through, the pair may reach $48.
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