Bitcoin (BTC) Can't Break $100,000, Dogecoin (DOGE) Can Sniff $0.5, Did Shiba Inu (SHIB) Form Hidden Cup and Handle Pattern?

Bitcoin: Resistance at $100,000

As Bitcoin struggles to break the historic $100,000 barrier, investors face a mix of excitement and frustration. Strong market forces have turned this level into a psychological and technical resistance zone, hindering Bitcoin's upward momentum.

After a robust rally from $25,000 earlier in the year, Bitcoin has consolidated around $100,000. However, the recent stagnation suggests caution, as aggressive selling pressure from whales has emerged. This downward pressure has made it challenging for Bitcoin to gain sufficient momentum to overcome resistance.

Dogecoin: Approaching $0.5

Dogecoin has recently gained attention as it approaches $0.5. However, while the chart shows bullish momentum, it also indicates vulnerability. DOGE is currently trading within an ascending channel, indicating both support and resistance.

A breakdown below the channel's lower boundary could signal a potential price decline, with $0.38 serving as a crucial support level. Alternatively, a breakout above the channel's upper boundary could spark new buying interest and propel DOGE past $0.5.

Shiba Inu: Cup and Handle Pattern

Shiba Inu appears to be forming a cup and handle pattern, with the rounded bottom and early November consolidation phase representing the cup and handle, respectively. If confirmed, this traditional pattern suggests a potential bullish breakout.

Currently, SHIB is facing resistance at $0.00003500. If this level is overcome, the price may target $0.00004000. Strong support on the downside exists at $0.00002700. If prices fall below this level, the bullish pattern may be invalidated.

Conclusion

Bitcoin's struggle at $100,000 reflects historic market cycles and technical resistance. Despite the recent stagnation, history suggests Bitcoin may thrive amid adversity. Dogecoin's approach to $0.5 carries both optimistic and cautionary signs, while Shiba Inu's cup and handle pattern presents a potential bullish breakout scenario.