BTC price has returned to its range, potentially creating opportunities for altcoins like UNI, ARB, AAVE, and MKR to move higher.
Bitcoin attempted to break away from its sideways price action but was pulled back into the range by sellers.
Market observers are closely watching the review process for various ETF proposals, including one by BlackRock.
Altcoins are witnessing solid buying, causing Bitcoin’s market dominance to drop below 50%.
Bitcoin’s price action shows a bearish divergence on the RSI, indicating weakening bullish momentum.
UNI has been finding support at the 20-day EMA, suggesting positive sentiment and dip-buying.
ARB broke above a symmetrical triangle pattern, indicating bullish strength.
AAVE broke above a descending channel pattern and held the retest of the breakout level, showing bullish control.
MKR broke above a downtrend line and successfully retested the level, indicating strong demand at lower levels.
Summary:
– BTC price is back in its range after attempting to break away.
– Altcoins like UNI, ARB, AAVE, and MKR are showing potential for upward movement.
– Market observers are watching ETF proposals, including one by BlackRock.
– Bitcoin’s dominance has dropped below 50%.
– UNI is finding support at the 20-day EMA.
– ARB broke above a symmetrical triangle pattern.
– AAVE broke above a descending channel pattern and held the retest of the breakout level.
– MKR broke above a downtrend line and successfully retested the level.
