Bitcoin price targets $ 60,000 by Saturday
Bitcoin price has been trending upwards since the price broke out of consolidation to make higher highs. After maintaining a remarkable upward trend for the past few days, BTC price is currently falling into a bearish trap. However, the drop below $ 57,000 could still be seen as a healthy correction as a rebound could still take place.
The price is undoubtedly falling sharply, but it could rebound to $ 58,268 or below. These levels indicate the local support levels and therefore these levels tend to turn around every time the price is visited. And so, following the pattern, the price could eventually climb high and reach $ 60,000 very soon.
Ethereum price trembles down
The majority of tokens are currently falling into the bearish trap of losing a remarkable amount of profits. As Bitcoin prices climbed below $ 57,000, Ethereum prices followed the trend, plunging below $ 3,500. However, buyers appear to be well positioned trying hard to keep ETH price from reaching the support levels at $ 3,373.
The asset shook below the 200-day MA and is slowly approaching support levels. The price is still hovering within a bullish narrative despite a tight trend. However, the current consolidation above these levels suggests a healthy uptrend ahead. These could eventually push the price up to nearly $ 4,000 very soon.
However, the growing bitcoin dominance is believed to pose a threat to the much-anticipated old season. In fact, if the dominance grows above 48%, the altcoins could bleed red as BTC price tends to march towards its ATH. As soon as Bitcoin levels off or travels sideways, one can therefore expect the price of Altcoins such as Ethereum (ETH) to rise.