Bitcoin breached an important level at $11,200 and faced $11,800 as the next level of resistance. It had formed a symmetrical triangle in the past couple of weeks and BTC broke out to the upside to reach $11,450. Over the past few days, BTC appeared to be forming a similar symmetrical triangle.
Price broke out to the upside once more and it appeared likely that Bitcoin would attempt to breach $11,800 and $12,000 psychological resistance in the next few days.
However, there was a close beneath the pennant as well, in what was possibly a stop-loss hunting strategy.
IOTA was moving within an ascending channel. At press time, the momentum was still going strong as the Awesome Oscillator registered green bars on the histogram.
With a level of resistance at $0.288 and right beside IOTA on the chart, a rejection could spark a brief downtrend while a close above resistance would signal the channel continuation in the coming hours.
The $0.288 region is important as it has been a level price has failed to close above since early September, and was the level where IOTA began its run to the yearly high of $0.448, previously touched in June 2019.
FTX Token [FTT]
FTT broke out of a downtrend (orange) beginning in early September. The breakout and test of $3.66 resistance were rejected on the first try, with the price being forced down to $3.5. However, the asset surged once more and at press time was trading beneath the same level of resistance.
The Parabolic SAR’s dots were beneath the price, indicating a buy signal and giving traders a possible stop-loss level.