Bitcoin Price Rally Continues as MOVE Index Declines: BTC and ETH Technical Analysis

Bitcoin (BTC) maintains its strong upward trajectory despite a 24-hour pause in the rally. The cryptocurrency continues to hold above the steep uptrend line from $110,000 lows, with prices bouncing off this support level in recent trading sessions. Technical analysts suggest call spreads as an optimal strategy for investors who missed the initial rally to capture further gains. The daily chart shows BTC approaching a critical breakout above the expanding triangle's upper boundary, which could propel prices toward the $135,000-$140,000 range. However, a break below the hourly ascending trendline might trigger a correction toward $118,000 support. Traditional markets present mixed signals for risk assets. The MOVE index, measuring Treasury volatility, has dropped below 70 - its lowest level since December 2021 - indicating favorable conditions for risk assets. Meanwhile, the dollar index (DXY) shows strength with a potential double bottom pattern, and the 10-year Treasury yield has risen to 4.16% despite recent Fed rate cuts. Goldman Sachs warns that Japanese bond market volatility could spill over into U.S. Treasuries, adding uncertainty. Ether (ETH) has gained 4% with a bull flag breakout on weekly charts, suggesting potential continuation toward $5,000. However, weekly closing losses would indicate bearish control. Traders should monitor dollar strength and yield movements, as these could impact crypto market momentum.