The markets take the mechanical staircase and the elevator Down goes in an old Wall Street Shibboleth, and Crypto is following that script this week, with several days of hard profits more than cleaned in Friday’s trade.
Almost carrying out the level of $ 118,000 at a time on Thursday after the Federal Reserve one day before cut the interest rates for the first time this year, Bitcoin It has recovered at $ 115,600, 1.5% in the last 24 hours and now essentially flat in the last seven days.
Ether (Eth) It has retired from the area of ​​$ 4,750 to $ 4,460, lower by 2.9% in the last 24 hours and now outside 1.5% week after week.
Amid the emotion of ETF and the growing institutional adoption, the two best cryptocurrencies this week were solana and Dogecoin . However, both have returned to Fat in the last seven days, with a lower sun at 4.5% in the last 24 hours and Bage dropped 6.3%.
Technical factors suggest reason for optimism
In a world where US actions have been having maximum records daily, it may seem that Bitcoin has failed to gain much land lately. However, its price action in recent weeks has formed a clear pattern of ascending triangle, highlighted by a series of higher minimums, while pressing against horizontal resistance about $ 118,000.
Each setback since the beginning of September has found support in a line of growing trend, pointing to a constant accumulation and a bullish bias among merchants. The market is currently consolidating at $ 115,700 around the ascent support line.
For now, the highest minimums maintain the inclined advantage towards the bulls, and the merchants closely observe the roof of $ 118,000.
