Bitcoin opened the week strong, targeting new highs as it approached the resistance zone of $109,588 to $111,980. Trader Cas Abbe predicts a significant move above $109,000, but caution exists regarding a potential dip to $101,500. The S&P 500 Index saw buyers aiming to push prices to resistance at 6,147, while the US Dollar Index faced selling pressure near crucial levels. Bitcoin formed an inverted head-and-shoulders pattern, with a breakout above $112,700 potentially targeting $146,892. Ether struggles within a range, with a breakout above $2,738 indicating upward momentum. Meanwhile, XRP, BNB, Solana, and Cardano also face critical support and resistance levels. HYPE exhibits strength after breaking above a symmetrical triangle, potentially soaring to $42.50. Traders need to watch for pivotal price actions that could indicate the direction of these coins in the coming days.

Source 🔗