Bitcoin strongly leads the market, alts follow the Rebound

Bitcoin has performed strongly recently, with an increase of over 6% last week, showing strong buying interest around the $100,000 level. Bulls are working hard to keep the price above $108,000 to solidify their advantage. However, liquidity is usually lower on weekends, so caution should be exercised regarding breakout moves. Sellers are expected to re-enter on Monday, trying to keep the price within the $100,000 to $112,000 range.

The strong performance of Bitcoin has also driven buying in some altcoins, causing them to rebound from their respective support levels. If Bitcoin can set a new high, these altcoins may attempt to break through the resistance levels above and continue the rebound momentum.

Bitcoin Technical Analysis

Bitcoin is currently oscillating between the moving average and the downward trend line. Buyers are attempting to push the price above the downward trend line, but are currently facing resistance from sellers.

The moving average is on an upward trend, and the Relative Strength Index ( RSI ) is in the positive territory, indicating that the bulls have a slight advantage. If the bulls successfully break through the downtrend line, BTC may rise to $110,500 and then further climb to $112,000.

It is expected that sellers will build a strong defense between the downtrend line and the neckline of the head and shoulders pattern. However, if buyers can break through strongly, the Bitcoin price may rise significantly to around $150,000.

If the price bounces back from the descending trend line and falls below the moving average, the short-term bullish expectation will be challenged. This could lead to a price drop to $102,500, or even down to $100,000.

On the 4-hour chart, Bitcoin rebounded from the 20-day exponential moving average, but the bulls failed to break through the descending trend line resistance. If the price continues to fall and breaks below the 20-day average, it indicates that the bulls are losing control. It may then drop to the 50-day simple moving average, which is a key support level. A break below the 50-day average could trigger further selling, pushing the price down towards $100,000.

From an optimistic perspective, bulls need to push the price and stabilize above the downtrend line to release a strong signal.

Analysis of Other Cryptocurrencies

HYPE

Hyperliquid (HYPE) broke below the 20-day moving average on last Thursday at 37.14 USD, but the bears failed to hold the low, indicating that there is buying support for every slight decline. The bulls pushed the price back above the 20-day moving average on Saturday. If it breaks through the resistance level of 39.12 USD, HYPE could rise to 42.50 USD. Buyers are expected to encounter strong resistance in the range of 42.50 USD to 45.80 USD.

On the contrary, if the price breaks below the 20-day moving average, it indicates that bears are active at high levels. It may then fall to the 50-day moving average (34.42 USD ). If it breaks below and closes under the 50-day moving average, it could further decline to 30.69 USD.

On the 4-hour chart, HYPE is finding support at the 50-day simple moving average, with bulls attempting to push the price to the resistance level of $39.12. If successful, it could rise to $41, followed by a climb to $42.50. The first support level below is the 20-day moving average, followed by the 50-day moving average. A drop below the moving averages indicates a weakening bullish momentum, which could lead to a price drop to $33.25, or even to the solid support level of $30.69.

( Bitcoin Cash ) BCH ###

Bitcoin Cash encountered selling pressure near $500, but the positive signal is that the bulls have not significantly retraced. The rising moving averages and the RSI indicator in the positive zone indicate that the bulls are in control. This increases the likelihood of a breakout above $500. If the breakout is successful, BCH could rise to $550. Bears may build a defense near $550, but if the bulls dominate, the price is expected to reach $625.

On the downside, the first support level is at the 20-day moving average of (464 dollars ), followed by the 50-day moving average of (430 dollars ). A drop below the 50-day moving average means that bears regain control of the market.

On the 4-hour chart, bulls are attempting to keep the price above the 20-day moving average. If successful, BCH may challenge the resistance level of $500 again. Breaking above $511 could further enhance the upward momentum. Conversely, if the price falls and stabilizes below the 20-day moving average, it indicates that bulls are taking profits. This could lead to a price pullback to the 50-day moving average, where bulls may re-enter at this level.

( Chainlink )LINK###

Chainlink has recently maintained the 20-day exponential moving average at 13.27 USD, indicating that the bulls are keeping pressure. If the price breaks above and stabilizes above the 20-day moving average, LINK may rise to the 50-day moving average at 14.43 USD. Bears are expected to defend strongly near the 50-day moving average, as a breakout above this average may signal a trend reversal. Subsequently, LINK is expected to rise to 18 USD.

Conversely, if the price drops significantly from the current level or the 50-day moving average, it indicates that bears are selling at high positions. A drop below $12.73 may lead LINK to oscillate within a downward channel for a period.

On the 4-hour chart, bulls are trying to push the price to the resistance line, but bears are actively defending the $13.50 level. If the price breaks below the 20-day moving average, it indicates insufficient demand at high levels, which may lead to further declines to the 50-day moving average. On the contrary, a strong rebound from the 20-day moving average indicates optimistic market sentiment. LINK may rise to the resistance line, which is a key position. After breaking the resistance line, the price is expected to head towards $15.50.

( Sei )SEI(

This Monday, Sei broke through the 50-day moving average at 0.21 USD after gaining momentum, and on Tuesday it broke the resistance level of 0.29 USD. However, buyers failed to hold the high, and on Wednesday the price retreated below 0.29 USD. The good news is that the bulls subsequently pushed the price back above 0.29 USD. The 20-day moving average at 0.23 USD is starting to rise, and the RSI is in the positive zone, indicating that there is little upward resistance. SEI could rise to 0.35 USD, and then is expected to climb to 0.43 USD.

If the price breaks below the 20-day moving average, the short-term bullish expectations will be challenged. This could lead to SEI dropping to $0.19, and even further down to $0.15.

![Bitcoin is about to hit a new high, will the alts season come?])https://img-cdn.gateio.im/webp-social/moments-02d345f32eeddd9d8ad2f62b4689320e.webp(

On the 4-hour chart, both moving averages are on an upward trend, and the RSI is in the positive territory, indicating that buyers are in control. If the price stabilizes above $0.30, SEI is expected to rise to $0.33.

Sellers may attempt to push the price below the 20-day moving average. If successful, SEI could drop to $0.27 and then fall to the 50-day moving average. Buyers are expected to actively defend the 50-day moving average, as further pullbacks could delay the recovery of the upward trend.