Price analysis 11/20: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, LINK
Cointelegraph
20 Nov 2023 6:08 PM
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.
You May Ask
What were the weekly gains for the S&P 500 Index and Bitcoin?How have cryptocurrency investors reacted to the rally in Bitcoin?How much have crypto ETP assets under management increased in 2023?What are the key levels and indicators to watch for in the S&P 500 Index, U.S. Dollar Index, Bitcoin, and Ether?What is the target objective for Ether based on its ascending triangle pattern?