Bitcoin and Ethereum Price Prediction – BTC Breakout Triangle Pattern, Preparing for Lift Off?
On October 24, the Bitcoin price showed a bearish correction after getting rejected at the $19,700 resistance mark. In contrast, Ethereum is rising, gaining over 2% to $1,347 during the early Asian session.
Major cryptocurrencies were trading bullish early on October 24, with a global crypto market cap of $931 billion on the previous day with a trading volume of $479 billion. Let's take a look at the top winners and losers so far today.
The top performers in the Asian session were Klaytn (KLAY), Polygon (MATIC), and TerraClassicUSD (USTC). Klaytn (KLAY) is up more than 25% to $0.18, while MATIC is up more than 6% to $0.88. At the same time, USTC has surged more than 6% in the last 24 hours.
In the last 24 hours, the price of The Chain (XCN) has dropped by more than 3% to $0.05. The price of Axie Infinity (AXS) has dropped more than 2% to around $8.6.
The current Bitcoin price is $19,339, and the 24-hour trading volume is $25 billion. Bitcoin has gained by more than 0.50% in the last 24 hours. CoinMarketCap currently ranks first, with a live market cap of $370 billion.
On Monday, the BTC/USD violated the symmetrical triangle pattern at $19,250, and now the same level is likely to act as major support. Closing of candles above this level has the potential to drive an uptrend until the $19,650 level, and a bullish crossover above this could lead BTC toward $19,950.
Typically, the symmetrical triangle's bullish breakout results in an uptrend continuation; therefore, bulls may dominate the market. The MACD and RSI are also holding in a buying zone, signaling a bullish trend. Let's consider staying bullish over $19,200 support today.
On the lower side, a break below the $19,200 level can open up further room for selling until
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