What next with Bitcoin?
check the post before about Total market cap, as this is continuation to it.
Moving to Bitcoin (BTC), there's a noticeable rejection at the top resistance zone between $46,350-$48,350. Similarly, the lower zone, once resistance and not yet tested as support, might see another price spike before a potential downturn.
Conclusion: In the short to medium term, we might witness a reduction in the overall crypto market cap and Bitcoin prices, potentially increasing BTC dominance. This aligns with the broader market strategy of preparing for multiple scenarios, ensuring readiness for any market movement.
Disclaimer: This analysis reflects my perspective and should not be the sole basis for your trading decisions. Always prioritise risk management and remember that trading involves risks.
Moving to Bitcoin (BTC), there's a noticeable rejection at the top resistance zone between $46,350-$48,350. Similarly, the lower zone, once resistance and not yet tested as support, might see another price spike before a potential downturn.
Conclusion: In the short to medium term, we might witness a reduction in the overall crypto market cap and Bitcoin prices, potentially increasing BTC dominance. This aligns with the broader market strategy of preparing for multiple scenarios, ensuring readiness for any market movement.
Disclaimer: This analysis reflects my perspective and should not be the sole basis for your trading decisions. Always prioritise risk management and remember that trading involves risks.
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.