Key points:
Bitcoin is struggling to rise above $84,000, but the bulls remain in control as long as the price remains above the 20-day EMA.Several major altcoins have pulled back, indicating that the bears remain sellers on rallies.
Bitcoin (BTC) has pulled back at the start of the week, but the bulls are trying to maintain the price above $81,500. Crypto sentiment platform Santiment said in a recent report that the current ratio of bullish to bearish comments on social media is 1.5:1. That suggests the current up move may not have much legs, as rallies supported by a confident crowd tend to fizzle out faster than those amid growing skepticism.
A negative sign for BTC is that it is facing rejection at the 200-day exponential moving average ($82,039). Since November 2025, every rejection at the 200-day EMA has been followed by sharp drawdowns of between 25% and 36%. If history repeats itself, BTC may see a 30% drawdown toward $56,000.
Crypto market data daily view. Source: TradingView
However, it is not all gloom and doom for the bulls. US spot BTC exchange-traded funds have recorded six consecutive weeks of net inflows, the longest such streak since August 2025. That suggests investors anticipate the recovery to continue.
Could BTC and the major altcoins stage a turnaround? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
S&P 500 Index price prediction
The S&P 500 Index (SPX) continued its uptrend, rising to a new all-time high of 7,423 at the time of writing the article on Monday. That shows the bulls are firmly in command.
SPX daily chart. Source: Cointelegraph/TradingView
A minor risk to the continuation of the uptrend is the overbought level on the relative strength index (RSI). That suggests the markets have run up sharply in the near term and may enter a consolidation or correction.
The support to watch out for on the downside is the 20-day EMA (7,169). If the price rebounds off the 20-day EMA with force, it signals that the uptrend remains intact.
The first sign of weakness will be a close below the 20-day EMA. That clears the path for a drop to the 7,002 level.
US Dollar Index price…
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