Price analysis 11/20: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, LINK
The U.S. dollar is losing strength and Bitcoin and select altcoins look ready to lift off....
- The S&P 500 Index rose 2.24% last week, its third consecutive weekly gain.
- Bitcoin managed a small gain of 0.8%, indicating consolidation below $38,000.
- Cryptocurrency investors are holding onto their Bitcoin holdings, indicating a long-term bullish view.
- Crypto ETP assets under management increased by 91% from Jan. 1 to Oct. 31, 2023.
- The S&P 500 Index has shown bullish signs, with a breakout above the downtrend line and bullish moving averages.
- The U.S. Dollar Index has turned down, indicating bearish sentiment.
- Bitcoin is approaching a vital resistance at $38,000, with potential for a correction if it fails to break above.
- Ether is forming an ascending triangle pattern, with a target objective of $3,400.
The sentiment in the article is mostly positive, with mentions of bullish prospects for the S&P 500 Index, Bitcoin, and Ether. However, there is also a mention of a potential correction if Bitcoin fails to break above its resistance.