After reaching the peak of $45,000, Bitcoin (BTC) swiftly demonstrated its inherent volatility, plummeting by 7.5% to $40,000 early on Monday amidst a broader cryptocurrency selloff. However, the leading crypto later staged a recovery, regaining 3.6% to hover around the $42,000 mark. Experts attribute the fall to market deleveraging rather than a specific fundamental news catalyst. Investors are attentively monitoring upcoming US inflation data and the Federal Reserve’s final policy meeting of 2023, anticipating potential impacts on the market dynamics. Against this backdrop, Avalanche (AVAX) and Polygon (MATIC) have captured investors’ attention with their distinctive movements. Both cryptocurrencies exhibit a bullish outlook, with most analysts predicting robust gains in the near term. What insights can technical indicators provide in this context?
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