• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

This Observation Suggests the Crypto Markets are About to See Massive Upside

Cole Petersen by Cole Petersen
12 months ago
in Cryptocurrency news, Technical analysis
Reading Time: 2min read
Altcoins Crypto Bitcoin
Advertisement
Listen to Article

The aggregated crypto market has been caught within a firm upwards tailwind that has resulted from Bitcoin’s rally up towards $10,000, with this bullishness allowing many major altcoins to post significant gains.

Analysts are now noting that the aggregated altcoin market has now broken above a key resistance level, leading many to predict that the markets will soon see significantly further upside.

Altcoins Begin Picking Up Steam, But All Eyes Remain on Bitcoin

It is clear that Bitcoin, as the benchmark cryptocurrency, has been firmly leading the markets, with most major altcoins closely tracking the cryptocurrency’s short-term trends throughout 2020.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin, which is currently trading up just under 1% at its current price of $9,740, is in the process of vying for a break above the heavy resistance that exists between $9,800 and $10,000.

Most major altcoins are similarly trading relatively sideways at the moment, with Ethereum climbing 4.2% while XRP, Bitcoin Cash, and Litecoin are all trading up roughly 1%.

In the near-term, it is highly likely that where major cryptos trend next will hinge on how Bitcoin responds to the heavy resistance it is currently pushing up against, with a break above $10,000 opening the gates for significantly further gains, while a firm rejection at this level could spell trouble for what comes next.

In the near-term, analysts do believe that the aggregated altcoin market is about to see some heightened volatility, with Galaxy – a prominent cryptocurrency analyst on Twitter – telling his followers that altcoins are “ready for another move” against Bitcoin.

$ALTS/BTC looking ready for another move.

— Galaxy (@galaxyBTC) February 4, 2020

He further notes in a later tweet that he anticipates that this movement will be “to the upside.”

Crypto Market Breaks Key Resistance Level, Signaling a Big Move is Imminent 

One factor that could hold some serious sway over where the aggregated crypto market heads next is the fact that the altcoin market recently broke above a key resistance level against BTC.

The break of this resistance level has led HornHairs, another popular cryptocurrency analyst, to note that altcoin dips are “for buying.”

“ALTS/BTC with a clean breakout after half of year of consolidation and sideways. Dips are for buying,” he said while pointing to the chart seen below.

$ALTS/BTC with a clean breakout after half of year of consolidation and sideways. Dips are for buying.

What alts are you looking to pickup on the next pullback? pic.twitter.com/nBRgaR0Qe7

— HornHairs ? (@CryptoHornHairs) February 5, 2020

Although Bitcoin may provide some guidance as to where the general market trends next, altcoin’s recent break above this resistance level seems to suggest that they will start gaining some momentum independent of Bitcoin.

Featured image from Shutterstock.
Tags: altcoinscrypto
TweetShare79
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Ethereum

Ethereum is About to Post a Massively Bullish Signal as Bulls Take Charge

18 mins ago
The DeFi Powerhouse That Keeps on Growing

The DeFi Powerhouse That Keeps on Growing

11 hours ago
Ethereum

Ethereum Starts Fresh Increase, Why ETH Could Surge To $1,500

13 hours ago
Bitcoin

Bitcoin Facing Uphill Task, Why BTC Could Drop To $30K Again

15 hours ago
Ethereum

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

1 day ago
Ethereum

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.