Bitcoin’s Friday Fizzle
As the weekend approached, Bitcoin seemed to be playing hard to get, trading around $46,000 after a slight tantrum at just shy of $47,450. Analysts have waved their warning flags, indicating that its precious multi-week uptrend might be more fragile than a toddler with a glass ornament.
Critical Levels on the Radar
According to zn data from Cointelegraph Markets Pro and TradingView, Bitcoin is now about $1,500 below a crucial price point known as the Higher Low. In simpler terms, it’s like missing a final exam—you don’t just want to pass; you need to ace it to keep your perfect record intact! The next hurdle? A weekly close above that Higher Low of roughly $47,400. Spoiler alert: it needs to happen soon.
Eyes on the Altcoin Prize
Meanwhile, in the land of altcoins, Tezos (XTZ) decided that it was time to party, soaring by a dazzling 24% on that fateful Friday. The sudden interest had all the makings of a surprise birthday party, with XTZ/USD hitting $6.53, marking a high not seen since mid-May. It appears that music artist Doja Cat’s NFT frenzy was the DJ for this event, attracting a crowd like moths to a flame. 400,000 daily transactions? No big deal! Just a casual Tuesday for Tezos.
Ether’s Solid Performance
But wait, there’s more! Ethereum, the big dog in the altcoin yard, catered a delightful bounce off its support against Bitcoin. Contributor Michaël van de Poppe was practically giddy, predicting *new highs* as ETH/BTC reversed its downward spiral at 0.071. It’s like watching a phoenix rise from the ashes, but less dramatic and more crypto.
Wrap Up: The Weekend Ahead
As the week winds down, all eyes will be on Bitcoin to see if it can put on its big boy pants and secure that all-important multi-week uptrend. Will it rise to the occasion, or is it destined to reminisce about what could have been? Only time—and the next few candle closes—will tell.
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