Bitcoin Range Breakout Could Trigger Buys in ADA, ATOM, FIL and EOS This Week

The drop in US stock markets last week extended the market-wide losing streak to three straight weeks. The Nasdaq Composite has fallen f...


The drop in US stock markets last week extended the market-wide losing streak to three straight weeks. The Nasdaq Composite has fallen for six straight days for the first time since 2019. Markets’ negative reaction to a seemingly positive August jobs report suggests traders are nervous about the Federal Reserve’s next steps and its effects on the economy.

Weakness in US stock markets pulled Bitcoin (BTC) moved back below $20,000 on September 2 and the bears kept the price below the level over the weekend. It pulled Bitcoin market dominance at just under 39% on September 4, its lowest level since June 2018, according to data from CoinMarketCap.

Daily view of crypto market data. Source: Coin360

Although the sentiment remains negative and it is difficult to call a bottom, investors who believe in the long-term prospects of cryptocurrencies could take advantage of this to gradually build positions at lower levels instead of trying to increase. catch the hollow. However, investors might avoid looking for higher prices during bear market rallies and look to buy when the price falls to strong support levels.

If Bitcoin stages a recovery, some altcoins could rise. Let’s study the charts of the top 5 cryptocurrencies that look strong on the charts.