Bitcoin, Ethereum And Dogecoin Consolidate, Form Strong Bullish Continuation Patterns: A Look At The Cryptos Into The Weekend
Portfolio Pulse from Melanie Schaffer
Bitcoin, Ethereum, and Dogecoin are consolidating with bullish patterns, indicating a strong bull cycle this year, partly due to SEC's approval of Bitcoin ETFs and anticipation of Ethereum ETFs. The next Bitcoin halving in April is also seen as bullish. Grayscale Bitcoin Trust (GBTC) has risen about 60% this year, showing similar bullish patterns. The consolidation allows for potential significant price rises, with specific resistance and support levels identified for each cryptocurrency.
March 01, 2024 | 4:55 pm
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Grayscale Bitcoin Trust (GBTC) has experienced a significant rise of about 60% this year, consolidating with bullish patterns similar to Bitcoin, Ethereum, and Dogecoin.
GBTC's price surge and consolidation patterns are directly linked to the overall bullish sentiment in the cryptocurrency market, particularly with the SEC's approval of Bitcoin ETFs and anticipation for Ethereum ETFs. The next Bitcoin halving event is also contributing to this positive outlook.
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