Bitcoin Hits New All-Time High While Shiba Inu and Dogecoin Show Promise

Bitcoin's New All-Time High

Bitcoin has surpassed the $111,000 mark, achieving a new all-time high. However, the market's response has been subdued compared to previous cycles. The price surge appears more like a steady climb rather than a euphoric rally.

Technically, Bitcoin's 50-day EMA is above the 200-day, forming a golden cross, and the price has held above the $102,000 resistance. Despite these positive indicators, signs of overextension are emerging. The RSI is at 77, indicating overbought conditions, and the price is far from short-term moving averages. This suggests a potential correction, possibly back to the $101,000-$102,000 range.

The lack of significant capital inflow is notable. Previous ATH breakouts typically saw substantial buying, but current momentum is driven by short liquidations and capital rotation. Without new buyers, sustained upward movement may be challenging.

Shiba Inu's Rebound

Shiba Inu (SHIB) is showing signs of recovery, rebounding above the $0.0000150 mark. The 26 EMA is curling upward, indicating improving sentiment and potential momentum expansion. A successful break above the 200 EMA near $0.000016 could confirm a medium-term uptrend.

However, low volume raises concerns, suggesting the bounce may be a technical relief rather than a strong breakout. Traders should watch for a double top formation if volume doesn't support further upside.

Dogecoin's Recovery

Dogecoin (DOGE) is attempting to regain its footing, breaking a descending trendline and moving toward $0.25 resistance. A breakout with strong volume could push DOGE toward $0.28-$0.30, a key psychological and structural level.

The alignment of the 26, 50, and 100 EMAs, combined with a falling wedge breakout, suggests potential for a bullish move. However, failure to hold above $0.25 could lead to a retracement toward the 100 EMA or $0.21 support.

While volume has increased, it's not yet at levels indicating euphoric buying. Traders should remain cautious of a possible double top formation.

This summary captures the essence of Bitcoin, Shiba Inu, and Dogecoin's current market dynamics, highlighting technical indicators and potential price movements.