Bitcoin and Stocks Surge Higher; Altcoins See Mixed Action
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Bitcoin and Ether surged past overhead resistance levels on Dec. 4, indicating bulls are still in control of the market. Institutional investors still have firepower to drive further gains.
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The S&P 500 Index broke above resistance at 4,541, opening the way for a potential rally towards 4,800. The U.S. Dollar Index is trying to recover but faces stiff resistance.
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Bitcoin has no major resistance ahead until $48,000. Ether broke out of a bullish triangle pattern with a target of $3,400.
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Altcoins like BNB, XRP, and SOL are seeing rangebound action or struggling with overhead resistance. ADA and DOGE broke key levels and could see further rallies.
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Chainlink is in an uptrend and could sprint towards $18.30 if bulls can propel it above the $16.60 level.