Bitcoin (BTC) Breaks HH and HL Pattern: Will It Be Able To Sustain?

On Wednesday, Bitcoin (BTC) dipped below $60,000 after the liquidation reached $122 million. However, it quickly recovered from the lows and is trading above $61,000.

Bitcoin (BTC) dropped below $60,000 on Wednesday after liquidations hit $122 million, but quickly recovered from the lows and trades above $61,000. These liquidations come amid rising tensions in the Middle East, prompting major BTC whales to shift toward low-risk opportunities to cap the downside.

Among the names that stood out with a high margin of safety are DTX Exchange (DTX) and SUI Blockchain (SUI). Both coins showcased strong relative strength during the market weakness, breaking out from recent highs.

We'll analyze the price action around these names and identify future levels that could influence the trend.

Bitcoin (BTC) Breaks HH and HL Pattern: Can It Sustain?

After an extended period of consolidation, Bitcoin (BTC) formed a higher high and higher low pattern, indicating bullish price strength. However, the recent market decline broke the pattern, pushing the BTC price to a support level.

Bitcoin (BTC) breached short-term moving averages, including the 50-day moving average.

The RSI also dropped to 47 from the overbought zone. For Bitcoin (BTC) price action, $60,000 is crucial. If it fails to stabilize above it, we could see a further downtrend. The next support level below could be $57,500; on the upside, $66,500 is approaching a resistance level.

DTX Exchange Crosses $3.5 Million With Whale Inflows

In the early stages of its presale, DTX Exchange has already raised over $3.5 million and is set to cross the $4 million threshold by mid-October.

As a hybrid trading platform, DTX Exchange combines the strengths of both CEX and DEX exchanges.

It offers traders access to over 120,000 asset classes, ranging from gold and stocks to cryptocurrencies. Unlike other platforms, DTX promises to execute trades in as little as 0.04 seconds, ensuring faster and more efficient trading.

The platform also introduces loyalty tokens, which are transferable among active traders—the more they participate, the more they earn. This concept aims to build a strong member base and adds an exciting element to the presale.

Furthermore, DTX enables trading directly from your wallet, eliminating the need for a traditional bank account to invest in diverse assets. Investors have complete control over their non-custodial asset, which is the storage they utilize.

Currently, DTX tokens are priced at $0.06, and the price is anticipated to rise 1,124% by the end of November. If someone invests $500 in DTX tokens now, by November, it may eventually become $6,120.

SUI Blockchain (SUI) Trades Near All-Time High

After DTX Exchange, SUI Blockchain (SUI) turned heads with its recent performance over the last 30 days. In this period, SUI surged over 100%, boasting a market cap of over $5 billion. SUI Blockchain (SUI) hit an all-time high of $2.17 and currently trades at a price that's 10% lower than the ATH level.

The continuous bounce from the 10DMA showcases the price strength in SUI Blockchain (SUI), and those in a position in the coin can trail the short-term moving averages. The coin’s relative strength index is above 80, so we might see some consolidation or pullback in a short time.

Learn more:

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