Bitcoin price will recover, but gains are capped at this point – FXStreet

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A brief technical and on-chain analysis on Bitcoin price. Here, FXStreet's analysts evaluate where BTC could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.
 

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Terraform Labs’ move to revive native token LUNA without stablecoin UST is similar to Ethereum’s hard fork of 2016. The algorithmic stablecoin UST will cease to exist once the revival plan is implemented since Terraform Labs CEO Do Kwon believes LUNA is more than TerraUSD. 
Solana price has found a stable support level which is currently providing a foundation of support for bulls to make a comeback. Since Bitcoin price looks optimistic, there is a good chance that SOL will also rally in the next few days.
Vitalik Buterin pulled 30,000 ETH from his public wallet today, fueling a bearish sentiment among investors. Proponents have considered the likelihood of the sale of 30,000 ETH moved by Buterin and expect a negative impact on the Ether price. 
Bitcoin price has been coiling up around the base of a range for quite some time. Monday’s range formation, however, indicates that an up move is likely in the coming days. Investors can expect Ethereum, Ripple and other altcoins to do the same.
Bitcoin price shows interesting setups from multiple time frames that hint at a confluence. This convergence occurs for the short-term bullish outlook as well as the macro bearish scenario for BTC. 
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