Crypto traders shift focus to 4 altcoins as Bitcoin price flatlines
Bitcoin's tight-range trading often indicates a period of consolidation, and when this consolidation breaks, it can lead to a significant price movement. This can impact other cryptocurrencies as well, leading to potential range expansions and trending moves in various altcoins like LINK, MKR, ARB, and THETA. Range expansion refers to a sudden and significant price movement outside of the recent trading range, whether it's an upward breakout (bullish) or a downward breakout (bearish). A trending move typically follows a range expansion, and it often leads to a prolonged and directional price movement in the cryptocurrency. It's important to note that while Bitcoin's price movement can have an influence on the broader cryptocurrency market, each altcoin has its unique fundamentals, technical indicators, and market sentiment. Traders and investors should conduct thorough research and analysis for each specific cryptocurrency to make informed trading decisions. In this context, "LINK" likely refers to Chainlink, "MKR" to Maker, "ARB" to ARBITRUM, and "THETA" to Theta Network. These are all distinct cryptocurrencies with their own ecosystems and use cases. If you're considering trading or investing in any of these cryptocurrencies, it's essential to analyze their individual charts, news, and market conditions to assess the potential for range expansion and trending moves. Moreover, it's crucial to use risk management strategies and to be aware of the inherent volatility in the cryptocurrency market, as significant price swings can occur in a short period. Trading cryptocurrencies carries risks, and it's advisable to have a clear strategy and risk tolerance before entering the market.
David Becker 
The provided analysis discusses the current price and potential future movements of several cryptocurrencies, including Bitcoin (BTC), Chainlink (LINK), Maker (MKR), Arbitrum (ARB), and Theta Network (THETA). Here's a summary of the key points for each cryptocurrency:
**Bitcoin (BTC):**
- Bitcoin has been trading in a tight range for the past three days.
- The price has been sustained above the 20-day exponential moving average (EMA) but hasn't seen a strong rebound, indicating a lack of demand at higher levels.
- A break below the 20-day EMA could favor the bears, potentially leading to a descent to the support at $24,800.
- Conversely, a move above the 50-day simple moving average would signal the return of buyers and may push the price towards the overhead resistance at $28,143.
**Chainlink (LINK):**
- Chainlink surged above a downtrend line, indicating a potential trend change.
- Moving averages have completed a bullish crossover, and the Relative Strength Index (RSI) is in positive territory, suggesting bullish sentiment.
- Buyers may step in to buy the dips to the 20-day EMA, and a strong rebound would indicate a shift in sentiment.
- The bears must sink the price below the 20-day EMA to prevent an upward move.
**Maker (MKR):**
- Maker turned down from overhead resistance at $1,370, indicating bearish pressure.
- The 20-day EMA at $1,226 is a key support level to watch for the downside, while a rebound from this level would show continued buyer interest.
- A break above the overhead resistance could accelerate the price towards $1,759.
- A move below the 20-day EMA may keep the pair range-bound between $980 and $1,370.
**Arbitrum (ARB):**
- Arbitrum is in a downtrend but has shown signs of the bulls trying to hold their positions.
- The RSI has risen above 40, indicating a gradual shift in momentum.
- If buyers can push the price above the 20-day EMA, a sustained recovery could begin.
- Key support levels to watch are $0.80 and $0.78, with a break below $0.74 signaling a resumption of the downtrend.
**Theta Network (THETA):**
- Theta Network rose above the 20-day EMA, suggesting the bulls are attempting a comeback.
- The 50-day SMA at $0.64 is a level to watch, with a potential retest of $0.70 if it is surpassed.
- The 20-day EMA is an important support level to monitor, and a break below it could lead to a retest of $0.57.
- A move above $0.65 could signal a new upward move towards $0.70.
Please note that cryptocurrency markets are highly volatile, and prices can change rapidly. It's important for traders and investors to conduct their own research, consider risk management strategies, and stay updated on market developments.
