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Price analysis 10/30: BTC, ETH, XRP, BCH, LINK, BNB, DOT, LTC, BSV, ADA

Bitcoin’s consolidation near a key overhead resistance is a sign of strength but the technical structure of most altcoins has weakened.

That being said, scaling decentralized e-voting systems is a complex task.

Altcoins took a serious hit as Bitcoin dropped below $13K today, meanwhile, BTC’s macrostructure remains bullish.

Bitcoin and altcoins are showing signs of short-term exhaustion, meaning a few days of consolidation could occur.

Bitcoin is showing signs of profit booking, resulting in a slight downturn in altcoin prices.

Bitcoin hit a new 2020 high and altcoins rallied as PayPal announced that it will support crypto payments.

Bitcoin price may rise to a new 52-week high if it can break above the ascending channel and this move could ignite the altcoins.

Bitcoin and altcoins must rebound off their immediate support levels to recapture bullish momentum and resume the uptrend.

Bitcoin and most major altcoins are sustaining above their immediate support levels, increasing the possibility that the uptrend will resume.

Bitcoin’s strength above the $11,500 multi-year resistance is also pulling many altcoin prices higher.