The market has been fixated on the advances made by Bitcoin and Ethereum, two cryptocurrencies that have posted solid gains in only six of the last 50 trading days. It is a rally that has occurred amid considerable volatility, with key technicals hinting at more to come, says Altcoin Daily.<\/p>\n
Bitcoin is holding firm above structural support in the upper $85,000s except for minor corrections, a bullish development. On their show, the hosts of Altcoin Daily note this as the crypto market experiences a period of heightened volatility. Ethereum has also shown strong momentum with its own share of gains.<\/p>\n
In terms of analysis, it is worth remembering that the biggest moves tend to happen during volatile times. Take the past 50 calendar days: Bitcoin is up about 40% and Ethereum a full 80%, most of it in the span of six sessions. That kind of price acceleration is what allows those in the market during high-volatility periods to achieve outsized returns.<\/p>\n
The weekly RSI for Bitcoin is the subject of discussion in the latest episode from Altcoin Daily; the figure is now above the mid-level. The hosts see this as an indicator of upward momentum and room for the price to appreciate. They offer the same advice they have given their audience before: when the RSI and price were at a low, that was the time to buy, and patience during a downturn is amply rewarded in a later rally.<\/p>\n
Do not mistake the fact that the weekly RSI has cleared the midpoint for an end to the bull run, Altcoin Daily emphasizes. In the last cycle, the RSI moved back above the midpoint quickly and prices continued climbing for years. One could argue, then, that there is still plenty of upside left in the cycle.<\/p>\n
All told, the hosts contend that with the price structure and bullish technicals on display, the market is not at its peak. For holders of Bitcoin and Ethereum, the best part of the cycle may still be ahead, judging by the RSI and market structure. Volatility in the near term is unsettling, but Altcoin Daily\u2019s view is that it is usually a prelude to something bigger. They encourage their viewers to be part of the action during these swings, as early signals in prior cycles did not mark the end, but rather set the stage for a long rally.<\/p>\n
This article reflects the channel author\u2019s opinion and is not investment advice.<\/em><\/p>\n Every call by Altcoin Daily and how it played out \u2014 in the BuyCrypt bloggers tracker<\/a>.<\/em><\/p>\n Source \u2014 Altcoin Daily: https:\/\/www.youtube.com\/watch?v=Sv0ofvJTRLo<\/a><\/em><\/p>\n <\/p>\n Explore market volatility insights by practicing trading risk-free on real markets with our simulator. practice trading risk-free<\/a>.<\/p>\n <\/p>\n