By Chris Hollingworth 
Bitcoin started the week with a notable decline, dropping to $110,530. However, analysis of both Bitcoin (BTC) and alternative cryptocurrency (altcoin) charts indicates the potential for a swift rebound towards the average trading range.
The downturn in Bitcoin’s price at the beginning of the week caught the attention of market participants, leading to discussions on the future trajectory of the digital asset. Despite the initial sell-off, technical indicators suggest a possible recovery in the near term.
Altcoins, which often follow Bitcoin’s price movements, also experienced fluctuations during the same period. Investors and traders closely monitored the altcoin market for signs of correlation or divergence from Bitcoin’s price action.
As the week progresses, market participants will be watching closely to see if Bitcoin and altcoins can regain momentum and push towards the average trading range. Factors such as market sentiment, regulatory developments, and macroeconomic trends may influence the direction of cryptocurrency prices in the coming days.
Overall, while the week started with a sell-off in Bitcoin, the charts indicate the potential for a quick recovery towards the average trading range for both Bitcoin and altcoins. Traders and investors are advised to stay informed and monitor the market closely for any further developments that may impact cryptocurrency prices.
