The U.S. dollar index (DXY) could continue its slide in Q4, according to a classic technical setup known as a “rising wedge.” The greenback’s bearish prospects may boost Bitcoin’s (BTC) price to new all-time highs as it holds above $62,000. DXY poised for another 1.75% drop Rising wedges are bearish reversal patterns that begin wide at the bottom but contract as the price increases. As a result, the trading range narrows, which makes the rally unconvincing. That typically prompts the price to break below the wedge’s support line and later fall by as much as the maximum distance between the …

After hitting a new all-time high, the price of Ether (ETH) could potentially head to $10,500, according to a strategist at major market research company Fundstrat Global Advisors. Fundstrat strategist David Grider commented on ETH hitting new historical records of about $1,430 in an investor note on Tuesday, Bloomberg reported. Grider said that the second-largest cryptocurrency could climb more than sevenfold to $10,500 after setting a new record. The strategist reportedly said that Ether is now “the best risk/reward investment play in crypto,” emphasizing that the Ethereum blockchain is the biggest foundation for decentralized finance, or DeFi, applications. “Blockchain computing …

Bitcoin’s (BTC) road to recovery could be a long one, according to Rob Sluymer, a technical researcher at market research firm Fundstrat Global Advisors. Per Bloomberg on March 20, Sluymer wrote in a recent note that Bitcoin’s price action was severely compromised by the recent price drop. He wrote: “The crypto breakdown over the past week mirrored the ‘get me out of everything’ panic that dominated all asset classes, whether they were defensive (bonds and gold) or not (equities). [...] Lower highs and lower lows are in place for Bitcoin, leaving in a compromised, potentially vulnerable longer-term profile.” Still, Sluymer …

Fundstrat co-founder Thomas Lee tweeted a timely reminder against panic-selling on Sept. 28, reminding that the majority of Bitcoin (BTC) gains come in the ten best trading days of the year. In fact, excluding these ten best days, BTC is down 25% per year. Fundstrat’s ‘rule of 10 best days’ In any given year, the vast majority of gains in Bitcoin price come in just the ten biggest trading days, according to this rule. During the last bull market of 2017, price rose an incredible 1,136% in those ten days. But even during the bear market of 2018, the best …