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    Price analysis 10/14: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

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    Bitcoin recently surpassed $65,000 and is expected to take on the $66,500 resistance. The gains, which represent 4% on the month, reflect strong buying activity in the cryptocurrency market, not just in BTC but in other cryptocurrencies as well. The rally in investments has been tied to the US elections. Meanwhile, the S&P 500 and US Dollar indexes show growth, while Ether is also on an upward trend. Observers advise investors to stay informed about market movements.

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    Bitcoin, often known by its ticker BTC, has had a great week, easily surpassing the $65,000 mark and showing that Bitcoin bulls are all set to break the next resistance at $66,500. It’s interesting because typically, October is a fantastic month for Bitcoin, and this year’s not an exception. The rally on Oct. 14 pushed the monthly gains to 4% and sparked excitement that the worst period might be over.

    If Bitcoin bulls can break the $70,000 resistance, it could start an even more significant increase. CoinShares reported on Oct. 14 that there were massive inflows of $419 million into Bitcoin investment goods. Many industry experts suggest this increase has been more influenced by the US elections rather than any changes in monetary policy.

    The recent Bitcoin rally has sparked a wave of buying in other cryptocurrencies (altcoins), which are now trying to break their own resistance levels. Predicting whether this growth will be sustained requires looking at the charts.

    Looking at the S&P 500 Index, there’s been some growth, particularly once it broke above the 20-day exponential moving average (5,727) on Oct. 8. The aim now is to get to 6,000, where sellers might put up a strong fight. If the index can hold at 6,000 or higher, there could be more growth up to 6,221. If it drops, the first level to watch is the 20-day EMA and then 5,670.

    The US Dollar Index also showed recovery last week, heading towards a resistance of 103.54. This signals that buyers are largely in control, and there’s potential for it to reach 105. The important level to watch on the downside is the 20-day EMA (101.99).

    The price of Bitcoin tried to drop below the 20-day EMA ($62,500) on Oct. 13, but the bulls held their ground. Now, it’s facing resistance at $66,500, but if the bulls can keep it above $65,000, it could increase to $70,000. Sellers are expected to put up a big fight between $70,000 and $73,777.

    There’s also been an upward trend for Ether in recent times, breaking above its moving averages on Oct. 14. If it can break the resistance at the top range of the triangle, it could reach $2,850 or even $3,400.

    Bitcoin, US Dollar, S&P 500, Ether – all of their performances are affecting all other cryptocurrencies too. So, if you’re an investor, it’s an exciting time, but do your homework and stay informed!

    Source: Cointelegraph

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