A bullish technical pattern signals that Bitcoin may be gearing up to retest it's all-time high and this positive development is pushing UNI,THETA,VET and LUNA higher

Bitcoin,s fundamentals received a boost as the U.S senate passed the 💰 1.9 trillion stimulus bill on march 7. If traders reacts to this bill in the Same way as they had done to the first stimulus package in April 2020, then the crypto markets may witness a strong rally.

The stimulus package also intensifies the focus on the devaluation of the U.S Dollar. These concerns could lead some investors to park their money in hard assets or Bitcoin instead of keeping them in fiat currencies, according to veteran trader Peter Brandt.

In addition to investors, a growing number of listed companies are choosing to protect their fiat reserves by buying Bitcoin.After the high-profile purchases by MicroStrategy, Tesla,and square,a Chinese listed company called meitu revealed that it had acquired 💰 40 million worth of Bitcoin and Ether.

Let's study about the top 5 cryptocurrencies.

BTC/USD

Bitcoin dipped below the 20-day exponential moving average (💵48,484) on march 5 and march 6 but the long tail on each candlestick shows buyers are ready to jump in at lower level s.the bulls have currently pushed the price toward the 🤑 52,040 overhead resistance

While the 20-day EMA flat,the relative strength index (RSI) has started to turn up and it has risen above 58, indicating that the bulls are attempting to make a comeback.

If the buyer can propel the price above the resistance, the BTC/USD pair may retest the all-time high at💲 58,341. A breakout of this level could start the next leg of the uptrend which may reach💲72,112.

UNI/USD

After consolidating near💲29 for three days, uniswap (UNI) has broken out of the overheard resistance today. If the bulls can sustain the price above💲29,it will enhance the prospects of the resumption of the uptrend.

Both moving averages are sloping up and the RSI is in overbought territory, which idicates that bulls are in command.If the UNI/USD pair rises above💲33, the next level to watch out for is💲38 and then💲46.

THETA/USD

THETA is in a strong upgrade although the altcoin turned down on march 7. The long tail on the march 8. Candlestick shows buying at lower levels. Corrections in a strong uptrend generally last for one to three days after which the main trend resumes.