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FXStreet Team
FXStreet
A brief technical and on-chain analysis on Bitcoin price. Here, FXStreet's analysts evaluate where BTC could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.
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AXS price hints at one more drop in price. If the technicals are correct, a target could be reached at $15. Axie Infinity price is currently coiling into what appears to be a triangle consolidation. The triangle could be considered a wave four within the steep declining rally that wiped 40% of profits since May.
Litecoin price hovers around $72.8, eyeing a quick reversion to the mean. Investors can expect LTC to trigger a 30% ascent if it can mow through the $82.3 hurdle. A decisive daily candlestick close below $64.6 will invalidate the bullish thesis.
MATIC price action has consolidated over the past three days. Further upside movement has been rejected against the Tenkan-Sen within the Ichimoku Kinko Hyo system. However, long and short opportunities now exist.
Algorand price is failing to establish bullish momentum following the severe decline and capitulation event into the lows at $0.36. ALGO could begin heading to complete a b wave triangle.
Bitcoin price shows interesting setups from multiple time frames that hint at a confluence. This convergence occurs for the short-term bullish outlook as well as the macro bearish scenario for BTC.
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