- Bitcoin price is ready for a move to $25,000 after overcoming the 200-week SMA.
- Ethereum price awaits capital rotation to make a move to $1,700 and $2,000 hurdles.
- Ripple price shows strength and rallies alongside the big crypto’s bulls.
Bitcoin price is making a significant move with a select few altcoins, including Ripple price. However, Ethereum price seems to have taken a backseat and shows no signs of moving, at least for now.
Bitcoin price is the most bullish among the bunch
Bitcoin price has done the impossible, it has flipped the 200-week Simple Moving Average (SMA) at $22,631 into a support level by producing a daily candlestick close above it. This development is a bullish trigger and has caused many investors to pivot their capital from altcoins to BTC.
As a result, only the big crypto and a select few altcoins are rallying. The most likely target for bulls would be to retest the midpoint at $25,000. This level is where a local top could form for Bitcoin price.
BTC/USD 4-hour chart
If Bitcoin price produces a daily candlestick close below $22,631, it will indicate a weakness among buyers. However, a four-hour candlestick close below $21,670 will flip the range high into a resistance level and invalidate the bullish thesis.