Bitcoin's price took a significant dip on Friday, erasing the week's previous gains. After briefly reaching nearly $118,000 following a Federal Reserve interest rate cut, Bitcoin fell to approximately $115,600, marking a 1.5% decline in 24 hours. Ethereum also saw a reduction in value, dipping from $4,750 to $4,460. Despite the downward trend, Bitcoin is forming an ascending triangle pattern, characterized by higher lows alongside a resistance level at $118,000. Technical indicators suggest continued optimism among traders, as this pattern often signals a potential upward breakout. Meanwhile, Solana and Dogecoin experienced significant reversals, both trending flat after earlier gains. Overall, while Bitcoin's price action remains steady with higher lows, the market is consolidating around a support level, indicating possible bullish momentum in the near future.

Source 🔗