Bitcoin price is back on the path to a new all-time high, and it seems altcoins intend to follow suit.
Bitcoin has resumed its journey toward a new all-time high, and the renewed bullish momentum is pulling altcoin prices higher.
A few altcoins are trying to start a new up-move even though Bitcoin is struggling to pull above $16,300.
Bitcoin and several altcoins are showing signs of breaking above their overhead resistance levels, which suggests bulls remain in control.
Bitcoin price is recovering well from its 6% drop to $14,800, but top altcoins are slow to follow.
Bitcoin price looks slightly overextended in the short-term and may take a break while altcoins play catch-up.
After reaching a new 2020 high, Bitcoin traders are fighting to flip $14,100 to support and Ethereum is attempting to do the same to the $400 level.
Increasing volume and a breakout above a key trendline have set Bitcoin price back on the path to $14,000.
Bitcoin’s consolidation near a key overhead resistance is a sign of strength but the technical structure of most altcoins has weakened.
Altcoins took a serious hit as Bitcoin dropped below $13K today, meanwhile, BTC’s macrostructure remains bullish.