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You Won’t Believe What Bitcoin Is Doing – And What Altcoins Do About It!

BBG News

Key points:

  • Bitcoin obstinately clings to its recent spoils, flirting disgracefully with an all-time high of $109,588 (no, that’s not the country code for a Swiss holiday helpline).

  • BlackRock’s spot Bitcoin ETF has enjoyed an uninterrupted 19-day binge of inflows. At this rate, one imagines the vaults must be groaning like a 1920s debutante after too much sherry. 

  • Several altcoins have remembered they exist, daring to break free from the Dickensian orphanage of “large basing patterns.”

During the week, Bitcoin (BTC) made what could only be described as a dignified lurch above the ominous $100,000 level. An event so splendidly psychological that even the most stoic bear was seen weeping discreetly into his morning gin. Bulls, emboldened by their 10% haul, have dug into the weekend with all the gusto of a cousin overstaying his welcome at your country estate.

The festivities are fuelled by relentless inflows to BlackRock’s esteemed IBIT, which, according to Farside Investors, has now produced a 19-day conga line of capital – the likes of which one hasn’t seen since Eton after exam season. The latest haul? A modest $1.03 billion, because why not?

Bitcoin’s revels are contagious – a handful of altcoins, previously dozing in the parlour, have ambled upwards as well. Jubilant analysts are howling about “altseason” like it’s the Second Coming, while the more cynical point out these “rallies” are as modest as a minor baronet’s annual income. The naysayers grumble: “Altseason, indeed? Tell that to my portfolio’s headstone.”  

Will Bitcoin crown itself anew atop an all-time high and manage not to spill the champagne? Let us, with all the solemnity of a vicar at a racetrack, consult the charts and divine which cryptocurrencies may soon ascend, or collapse with the grace of a soufflé in a thunderstorm.

Bitcoin price prediction

Bitcoin ambles ever closer to its $109,588 peak, in no discernible hurry to let profit slip from its well-manicured grasp. The market, meanwhile, is as tense as a dowager aunt at a jazz club.

The rally has nudged the RSI into that dangerous “overbought” territory, and a correction or genteel period of consolidation seems likely. Should Bitcoin tumble, a safety net awaits between $100,000 and the 20-day EMA ($96,626)—think of it as the fainting couch of technical analysis. A spirited rebound there, and, gracias, we might breach that hallowed $109,588, after which, $130,000 beckons like the South of France in July.

Bears, already on the back foot, must attempt the impossible—drag prices under the 20-day EMA, else be consigned to the wilderness. Should they fluke it, a headlong rush down to the 50-day SMA ($88,962) may ensue, no doubt causing panic among telegram groups everywhere.

The pair continues its genteel climb, but the bears are expected to mount a rearguard action between $107,000 and $109,588. Should this zone repel the bulls, the 20-EMA steps in like a butler with brandy. If the bulls bounce from the 20-EMA, expect talk of a breakout to reach a fever pitch. On the other hand, if sellers pull prices beneath $100,000, things could become unspeakably grim, with $93,000 and $83,000 looming ahead like uninvited relatives for Christmas.

Ether price prediction

Ether (ETH)—never one to be outdone—vaulted from $1,808 to $2,600 in two short days, shedding decorum and caution in a single bound. One rather suspects the bulls have acquired a taste for the high life. 🥂

This sprightly leap has, alas, inflated the RSI to positively indecent levels, making a pullback or period of clutching pearls all but inevitable. First line of defense for the faint-hearted: $2,320 and then $2,111. Should prices spring back from these, grand talk of $2,850—even $3,000—will echo around the drawing room.

Should the price tumble below $2,111, however, the mood will dampen and ETH may meander between $1,754 and $2,600, like an indecisive tourist at a dubious Paris café.

The bulls breaching the $2,550 resistance only to lose their trousers at higher levels is both farcical and, frankly, on-brand. The fact that bulls are not selling suggests they expect the party to continue; a decisive break above $2,609 would see Ether waltzing towards $3,000, monocle in place, cane twirling. If, instead, ETH plummets below the 20-EMA, we could see it tumble toward a less glamorous rendezvous at $2,111.

Dogecoin price prediction

Dogecoin (DOGE), the perennial jester, shot past $0.21 with the kind of gusto usually reserved for lottery winners and people evading fare inspectors. 🐕

The rally is now meeting stiff resistance at $0.26—a level more heavily guarded than the wine cellar in a bankrupt manor—which could bring us back to $0.21. If DOGE rebounds robustly from $0.21, it would indicate a paradigm shift from “selling on rallies” to “buying on fleeting dips.” Should this madness continue, $0.31 beckons, which seems both delightful and slightly preposterous. 

Should the price fall under the 20-day EMA ($0.19), DOGE risks bobbing aimlessly between $0.26 and $0.14—a little like a party guest who insists on reciting poetry. 

The pair’s unwillingness to remain at $0.26 is met with immediate support at $0.22 and $0.21. If the price rebounds, bulls may yet try to scale the $0.26 wall again. Conversely, a break under $0.21 and the exodus will be biblical, with the 50-day SMA waiting at the bottom to break the fall—or the spirit. Woof.

Pepe price prediction

Pepe (PEPE), that most amphibious of tokens, leapt from its 50-day SMA ($0.000008) and smashed through the vaunted $0.000011 resistance—with all the subtlety of a frog on roller skates. 🐸

The RSI now flashes “overbought” in a manner sure to induce nervous laughter among those old enough to remember 2021. Should a pullback ensue, $0.000011 serves as a likely lily pad, and any bounce there will invigorate dreams of $0.000017, and possibly even $0.000020—a sum so minute your bank might question the decimal point.

This fairy tale evaporates if PEPE slips under the 20-day EMA ($0.000009), in which case dreams may sink faster than an ill-advised soufflé.

The 4-hour chart shows bears have constructed a formidable barricade at $0.000014. If the price wobbles down to the 20-EMA, watch for a spirited fight at this technical trench. Should the bulls regain composure, another dash at $0.000014 may follow. If this fails, $0.000011 looms as the final defense line, after which, below lies the abyss—or at least, the humble 50-SMA.

Cosmos price prediction

Cosmos (ATOM) finally awoke from its long sojourn at the base and closed above $5.15 on May 10—possibly helped by smelling salts or a stern note from its broker. 

Bears, however, are not headed for early retirement. Expect a spirited campaign to push ATOM beneath $5.15. Success here may see optimistic bulls snared and prices tumbling ignominiously towards those sincerest of moving averages.

Should bulls manage to keep their head above $5.15, though, ATOM may rally with all the elegance of a new-money industrialist—first to $6.50, then, if the fates allow it, $7.50.

The recent rally has sent the RSI on the 4-hour chart into realms considered impolite by polite society. Bears will circle the $5.15 level; if it fails, ATOM could tumble to the 20-EMA and from there, possibly down to a somber $4.70. How terribly Victorian. 🪐

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2025-05-11 22:39

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