BTC Dominance Analysis
We are currently observing a key resistance zone (labeled as "A") between 59% and 60% dominance. The price action shows a potential rejection from this area, suggesting that BTC dominance might struggle to break above this level in the short term.
If the rejection occurs as expected, we could see a downward move towards the highlighted support zone (labeled as "B") around 54.5% - 55%. This zone represents a significant area of buyer interest and could lead to a reversal or stabilization.
Key Levels:
Resistance (Zone A): 59% - 60%
Support (Zone B): 54.5% - 55%
Projection:
If rejection from Zone A occurs, a bearish movement towards Zone B is likely.
A potential bounce from Zone B could lead to a recovery in BTC dominance.
If the rejection occurs as expected, we could see a downward move towards the highlighted support zone (labeled as "B") around 54.5% - 55%. This zone represents a significant area of buyer interest and could lead to a reversal or stabilization.
Key Levels:
Resistance (Zone A): 59% - 60%
Support (Zone B): 54.5% - 55%
Projection:
If rejection from Zone A occurs, a bearish movement towards Zone B is likely.
A potential bounce from Zone B could lead to a recovery in BTC dominance.
"🤖 Smart Trading Bots | 🚀 Advanced Market Analysis & Strategies | Helping You Trade Smarter, Not Harder!"
"🤖 Smart Trading Bots | 🚀 Advanced Market Analysis & Strategies | Helping You Trade Smarter, Not Harder!"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.