Bitcoin is trending toward a retest of its lower support and if this happens, UNI and ICP could breakout to the upside.
BTC
Bitcoin broke above the symmetrical triangle pattern on 7th but the bulls could not endure the push at higher levels. This suggests that the bears have not surrendered and are attempting to defend the overhead resistance at $23,363. The bears are attempting to sustain the price below the 20 day EMA OF $21,230. If they are successful, BTC could decline to the support line of the triangle .If the price rebounds off this level, it will suggest that bulls continue to buy at lower levels.
UNI
Uniswap broke above the overhead resistance at $6.08 which completed a bullish inverse head and shoulders pattern. The bears are trying to pull the price back below the breakout level. If they succeed, it will suggest that the rise above $6.08 may have been a bull trap. That could pull the price toward the 20 day EMA of $5.39. If the price rebounds off this level with strength, it could increase the possibility of a break above $6.62.
ICP
Internet Computer rose above the 50 day SMA of $6.48 on the 8th, signifying that the bulls are attempting to form a bottom. The moving averages are close to completing a bullish crossover and the RSI is in the positive zone, suggesting that the bears may be losing their hold. If the price rebounds off the moving averages, it will suggest that the bulls have flipped the level into support. That could open the doors for a possible rally to the psychological level of $10 where the bears may again pose a strong challenge.
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