BITCOIN → New targets! What will happen to ALTCOINS ?

went into consolidation after a failed attempt to break through the 108K resistance. Nothing terrible happened, the weekly structure is quite strong, and the market needs to build up its potential. What is happening and what to expect in the future?

In the week ahead, the focus is on the US rate meeting, GDP and PCE. If the US macroeconomic data disappoints, it could lead to a lower dollar and more interest in BTC.
As for Trump, he may give a good driver to the market if he pushes for the inclusion of BTC in the federal reserve, which is what the crypto trading community is waiting for now. But, it should be realized that tight US monetary policy and possible further rate hikes create pressure on high-risk assets, including bitcoin.

In a sideways moving environment, BTC dominance remains stable, around 50-60%. Altcoins are more likely to perform weakly in such an environment, with the exception of a few highly liquid assets.
If drops to 91.7К - 95К USD, it is likely that capital will continue to stay in BTC as investors focus on risk mitigation. Altcoins can only show growth if bitcoin has a new momentum above 107,400 USD.

Resistance levels:106.9, 107.5
Support levels: 102.5, 99950

Because of the strong resistance, the price is very likely to test one of the key support levels. And already from 102.5 - 100K a rather aggressive rebound may follow. But it is necessary to observe the character of the price and its approaching to these or those strong levels. Sharp movements often end in reversals, when smooth and gradual heralds a breakout.

Regards R. Linda!

Trade active

Resistance 105760 and support 104320 should be considered as strong levels for intraday trading. A breakdown of the support may trigger a decline to 102500

Trade closed: target reached

Target 1 reached ;)
+5%

Note

RLinda

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