Analysis Crypto by Thebittimes.Com

A widely followed analyst believes that altcoins may be gearing up for a late 2024-style breakout. The analyst pseudonymously known as Rekt Capital tells his 558,500 followers on X that the OTHERS weekly chart, which tracks the total market cap of crypto excluding the 10 largest digital assets and stablecoins, is looking bullish after reclaiming the $315 billion level as support. “Altcoin market cap has successfully weekly candle closed above $315 billion (red). Thus, altcoin market cap is now positioned for a reclaim that could repeat late 2024 (green circle). A volatile retest into the trendline (light blue) is possible.” Source: Rekt Capital/X The OTHERS chart is hovering around $322.83 billion at time of writing. Next up, the analyst says that Bitcoin may retest the level around $114,000 on the weekly chart before continuing higher. “So far, so good. ~$114,000 is showcasing initial signs of being retested as support. Still early in the wee...

A widely followed crypto analyst says that Bitcoin (BTC) may pull back after failing to hold a key support level. In a new thread, crypto trader Justin Bennett tells his 116,000 followers on the social media platform X that BTC may revisit the lower bound of a trading range at the $100,000 level, after a possible weekend bounce. “Possible scenario for BTC following Thursday’s $106,600 failure. Pull back/consolidate on Friday, weekend rally (because that’s what retail does) into $106,000-$107,000, and then revisit the $100,000 lows. Invalidation on a sustained break (high time frames) above $107,000… Personally, I wouldn’t be a buyer here, not after losing $106,600. It’s shorts only for me, but only if BTC gives me the opportunity on a bounce.” Source: Justin Bennett/X Bennett also says that BTC whales exiting long positions in favor of building short positions against retail is causing the flagship crypto asset to weaken. ...

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The Flockerz price has soared 22% in the last 24 hours to trade at $0.00156 as of 9 p.m. on a 5% slump in trading volume to $103k. Flockerz Price Poised For Breakout As Bulls Dominate FLOCK/USD price action shows signs of a strong bullish breakout, currently trading at $0.001174, with a daily high of $0.001177 and a low of $0.001169. Despite a minor 0.30% dip, the overall trend remains positive as the token emerges from a prolonged consolidation phase. The price action has followed a parabolic curve, indicating increasing buying pressure, with bulls now eyeing a decisive move past the 0.001200 neckline resistance. FLOCK could see a sharp rally toward the $0.001300 – $0.001350 zone, where the next major resistance lies if this breakout materialises. FLOCKUSD Analysis Source: Dextools.io Technical indicators continue to support the bullish sentiment. The 50-period simple moving average (SMA) at 0.00098931 has acted as a strong dynamic support, preventing deeper retracemen...

The XRP price surged 7% in the last 24 hours to trade at $1.490 as of 02:25 a.m. EST on trading volume that plunged 17% to $7.5 billion. This comes as Former U.S Securities and Exchange Commission (SEC) Commissioner Paul Atkins is reportedly the top contender to chair the agency under President-elect Donald Trump’s administration. Known for his pro-innovation stance and crypto expertise, Atkins is seen as capable of restoring the SEC to its “gold standard,” according to financial reporter Eleanor Terrett. 🚨NEW: Former SEC commissioner Paul Atkins is said to still be the favorite among top transition team members to lead the @SECGov, according to two sources close to discussions at Mar-a-Lago. @FoxBusiness, @CGasparino reported earlier this week that Atkins was in the lead for the… — Eleanor Terrett (@EleanorTerrett) November 27, 2024 Atkins’ potential appointment coincides with speculation that Trump’s administration might transf...

A widely followed crypto analyst is issuing a warning, saying that the rest of 2024 looks less than ideal for altcoins. In a new video update, crypto strategist Benjamin Cowen tells his 813,000 YouTube subscribers that based on historical patterns, altcoins appear set to plummet near the end of the year and capitulate against Bitcoin (BTC). Cowen says the capitulation also lines up with the beginning of a new interest rate-cutting cycle. “If you connect the dots from the last cycle, 2018, 2019 to 2020, you can see that it basically tagged this trend line three times and then the third tag of the trend line ended up being the bottom. We know that this interest rate cycle, this business cycle, has taken a little bit longer and if you connect the dots again – one, two and three – the third tag of the trend line might actually occur by the end of the year and coincidentally if you look at this trend line where you connect the dots, it hits 0.25 in Q4 which is e...

The price of XRP continues to face uncertainty, with the token consolidating below the $0.60 resistance level. Although the trading broadly aligns with the overall market sentiment, investors had anticipated that recent developments in the Ripple and Securities and Exchange Commission (SEC) case would trigger a rally. In the short term, XRP is experiencing increased selling pressure, coinciding with Ripple’s release of one billion XRP tokens through its escrow process. The transaction occurred in three phases, with 500 million, 200 million, and 300 million XRP tokens released on September 1. Picks for you This is why Kamala Harris could be great for retail investors 1 hour ago Bitcoin analyst reveals his BTC trading plan for this week...