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How long is Bitcoin (BTC) going to trade sideways against the rising altcoins?

How long is Bitcoin (BTC) going to trade sideways against the rising altcoins?
Denys SerhiichukDenys SerhiichukU.Today

The market is neither totally bullish nor bearish as some coins are already located in the green zone, while others have come back to red.

CHART

Top 10 coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the only coin from our list that is still located under bearish influence. It has fallen by 2.16% over the past day.

BTCUSD

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) keeps trading sideways. However, after a bearish candle, buyers have seized the initiative and continue pushing the rate up. In this case, there are chances to attain the area of MA 50, around the $56,800 mark.

Bitcoin is trading at $54,540 at press time.

ETH/USD

Ethereum (ETH) has set the new peak today at the level of $2,606. The rise is 8.17%.

ETHUSD

ETH/USD chart by TradingView

Applying the Fibonacci retracement on the chart, the peak may be located at the level of $3,200.

However, at the moment, the coin is overbought and consolidation in the range of $2,500-$2,600 is the most likely scenario for the upcoming days.

Ethereum is trading at $2,587 at press time.

UNI/USD

Uniswap (UNI) is the biggest gainer today as the rate of altcoin has risen by 14%.

Chart

UNI/USD chart by TradingView

Despite the sharp growth, UNI is not going to stop rising. On the daily chart, it is about to reach the vital resistance level at $40.06. If bulls break it, the coin might show sharp growth.

UNI is trading at $37.09 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

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