BTC Price Drops Below $70,000, While CKB, TAO, Maintain a Bullish Streek

The Bitcoin price had soared above $72,000 during the previous weekend, which displayed a pre-halving rally that had materialized. No sooner than the price broke above the upper resistance of the symmetrical triangle, the bears jumped in action and dragged the price within the pattern. This suggests the BTC price could remain in consolidation for some time, probably until the halving. 

The above chart displays the BTC price re-entering within the decisive zone, which indicates a higher possibility of testing the lower support. The volume remains within the average range, which suggests a bullish rebound could also follow the pullback. Besides, the technicals remain exclusive of bullish claims as the RSI is constantly forming lower highs and lows while the DMI remains indecisive. Therefore, the upward pressure may continue to prevail, which could be squashed by excessive buying volume. 

Altcoins Displaying Strength Aganist Bitcoin

In recent times, many of the altcoins have been displaying significant strength, while the BTC price has been maintaining a sluggish trend. Currently, two new tokens have made their entry into the top gainers for the day, Nervous Network (CKB) and Bittensor (TAO). While market sentiments have been varying to a greater extent, the altcoins have been displaying immense volatility. 

The Nervous Network (CKB) price has soared above 13% to reach levels above $0.035, followed by the Bittensor (TAO) price, which surged by over 8% to achieve $632. While both tokens have been maintaining a steep ascending trend since the beginning, a decent ascending trend is expected to follow.

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