Although Bitcoin has rallied about 33% year-to-engagement, its dominance has dipped to 64.twoscore%,  its lowest level since July 2022. This shows that altcoins take continued to outperform Bitcoin. However, with the Bitcoin halving fast budgeted, the digital nugget'due south volatility is probable to pick up.

Tom Lee, co-founder at Fundstrat Global Advisors, has again turned ultra bullish on Bitcoin and expects a rally to about 200% in the adjacent six months. According to him, historically, whenever Bitcoin has cleaved in a higher place its 200-day moving average, it has recorded an average six month gain of 197%. Lee expects halving to act equally a goad for the expected up move.

Daily cryptocurrency market performance. Source: Coin360

While we agree that annihilation can happen in the crypto markets, we believe that Bitcoin will have to scale several potent resistances before information technology reaches its lifetime highs. Until it breaks above the lifetime highs and goes into unchartered territory, it volition not show the kind of momentum it did in 2022.

Therefore, traders should be cautious and should take informed decisions without getting carried abroad by lofty targets. Let'due south analyze the charts to locate the disquisitional levels to watch out for.

BTC/USD

Bitcoin (BTC) dipped below the support of the tight $ix,200 to $9,600 range on February. 4. Nevertheless, the bears could not build upwardly on the breakdown. This shows that bulls continue to purchase the dips. The upsloping moving averages and the RSI in positive territory suggest that bulls are in command.

BTC USD daily nautical chart. Source: Tradingview

Today, the buyers have carried the price shut to the summit of the range and then prepare a new 2022 high at $9,744. The breakout of this tight range is a positive sign and information technology suggests the BTC/USD pair can rally to $x,360.89, which is likely to act as a stiff resistance.

The short-term tendency will weaken if the bears sink the pair beneath the 20-day EMA at $eight,982. Below this level, a driblet to $8247.60 is possible. For at present, we suggest traders retain the stop loss on the long positions at $8,200. If the price sustains in a higher place $9,600, the stops can be trailed college to $eight,900.

ETH/USD

Ether (ETH) is looking strong. The bulls purchased the pocket-size dip on Feb. 4 and have today pushed the price above the overhead resistance at $197.75. If the bulls can sustain the price above this level, the altcoin is likely to pick upwardly momentum.

ETH USD daily nautical chart. Source: Tradingview

To a higher place $197.75, the rally can extend to the side by side resistance at $223.999 and above it to $235.70. Both moving averages are sloping up and the RSI is in the overbought zone, which suggests that bulls are firmly in control. The traders tin trail the stops on the remaining long positions to $180.

If the bulls fail to sustain the price above $197.75, the ETH/USD pair will lose momentum. The pair will turn negative on a break below the strong support at $173.841.

XRP/USD

XRP has picked up momentum since bouncing off the 20-day EMA on Feb. 2. This shows that every bit price moves higher, the bears are throwing in their towel. The upsloping 20-day EMA and RSI in the overbought zone bespeak that bulls are in command.

XRP USD daily chart. Source: Tradingview

The next target to lookout man on the upside is $0.28132, which is the target objective of the inverted caput and shoulders pattern. If the bulls can sustain in a higher place this level, a rally to $0.31503 volition be on the cards.

Our bullish view will be invalidated if the XRP/USD pair turns downwardly from the current levels and breaks below $0.2326. The traders tin trail the stops on the long positions to $0.23.

BCH/USD

Bitcoin Cash (BCH) has broken out of the overhead resistance at $403.88 with a sharp rally today. This shows that the bulls have asserted their supremacy. At that place is a minor resistance at $440 above which, the upward move tin can extend to $500.

BCH USD daily nautical chart. Source: Tradingview

The current breakout has negated the developing negative departure on the RSI, which is another positive.

Reverse to our assumption, if the bulls fail to sustain the higher levels, the BCH/USD pair might once again dip to the recent back up at $360. A suspension below this support will turn the tendency in favor of the bears.

BSV/USD

Bitcoin SV (BSV) has bounced off the support line of the symmetrical triangle. This shows that the bulls are defending this level aggressively. They volition at present try to carry the price above the resistance line of the triangle.

BSV USD daily chart. Source: Tradingview

If successful, a move to $337.80 will be on the cards. Higher up this level, a retest of the lifetime highs at $458.70 is possible.

Conversely, if the BSV/USD pair turns down from the current levels and plunges below the triangle, a drop to $236 is possible. We expect the buyers to defend this back up aggressively.

LTC/USD

Litecoin (LTC) bounced off the breakout level of $66.1486 on Feb. 4, which is a positive sign. It shows that the bulls are defending this level aggressively. If the price tin sustain higher up the small-scale resistance at $73.5259, a rally to $80.2731 is possible.

LTC USD daily chart. Source: Tradingview

We anticipate the bears to defend the resistance at $lxxx.2731 aggressively. Nevertheless, if the momentum tin can conduct the price above $80.2731, the LTC/USD pair tin can rally to $96.439.

Our bullish view will be invalidated if the price reverses direction from the current levels and slides below the strong support of $66.1486.

EOS/USD

The tight $4 to $four.40 range in EOS has resolved to the upside. This shows that the bulls accept overpowered the bears and the uptrend has resumed. The side by side level to watch on the upside is $four.8719.

EOS USD daily chart. Source: Tradingview

We wait the bears to defend the overhead resistance at $4.8719 aggressively. Yet, if the momentum carries the EOS/USD pair above this level, a motility to $6 is possible.

The just bearish setup on the nautical chart is the negative divergence on the RSI. If the price turns downward from the current levels or from the overhead resistance and plunges beneath $4, it will turn the tide in favor of the bears.

BNB/USD

The bulls are attempting to sustain the price above the overhead resistance at $19. If successful, Binance Money (BNB) tin rally to $21.fourscore. Both moving averages are sloping upwards and the RSI is in the positive territory, which suggests that bulls are in command.

BNB USD daily nautical chart. Source: Tradingview

Contrary to our assumption, if the price fails to sustain above $19, it volition signal a lack of demand at college levels.

The BNB/USD pair will weaken below the 20-twenty-four hour period EMA at $17.7 and the trend will turn bearish on a break beneath $16.l. Therefore, traders can retain the stops on the long positions at $15.90. The stops can be trailed higher afterward the pair sustains higher up $19.

ADA/USD

Cardano (ADA) is attempting to resume the uptrend. If the price sustains above $0.586027, a motility to $0.065229 is likely. With both moving averages sloping up and the RSI in overbought territory, the reward is with the bulls.

ADA USD daily nautical chart. Source: Tradingview

The bears are likely to defend the overhead resistance at $0.065229 aggressively. Still, if the bulls can propel the price higher up this level, a rally to $0.08 will be on the cards. For now, the traders can retain the end loss on the remaining long positions at breakeven.

Our bullish view will be invalidated if the ADA/USD pair reverses management and plummets below $0.052. Such a move volition indicate a lack of buyers at college levels.

XTZ/USD

Tezos (XTZ) pulled back to the breakout level on Feb. 4, which was a buying opportunity for the traders, as suggested in our previous analysis. The altcoin has resumed its up motility with a sharp rally today.

XTZ USD daily chart. Source: Tradingview

The XTZ/USD pair can now move upwardly to its target objective of $3.35. All the same, information technology is unlikely to be a straight dash to the target. The pair might face resistance at $ii.5 and above that at $2.90.

Although the securely overbought reading on the RSI indicates strong momentum, it too suggests that the rally has been also sharp in the curt-term and a pullback or consolidation is possible. A intermission below $1.85 volition invalidate our bullish view.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves take chances. You should conduct your own enquiry when making a determination.

Market data is provided by HitBTC commutation.