BTC update - DEC 20 2024
After sweeping the liquidity that was positioned just above 104,000 zone, BTC finally began the heavy dump on Dec 17th causing a heavy sell pressure in the market as predicted.
Current solid support zone for BTC is the 90,200 zone where the upcoming reaction must be analyzed. If BTC breaks through the support level, it will most probably head for much lower levels possibly the recent CME gap and since BTC dominance is still rather high, more dump in BTC means altcoins are going to be greatly affected and they will touch mush lower levels as well.
One thing to keep in mind is that the current heavy dump in many altcoins is probably the shakeout before the altseason so it is once again advised to consider buying the dip in the potential altcoins.
Current solid support zone for BTC is the 90,200 zone where the upcoming reaction must be analyzed. If BTC breaks through the support level, it will most probably head for much lower levels possibly the recent CME gap and since BTC dominance is still rather high, more dump in BTC means altcoins are going to be greatly affected and they will touch mush lower levels as well.
One thing to keep in mind is that the current heavy dump in many altcoins is probably the shakeout before the altseason so it is once again advised to consider buying the dip in the potential altcoins.
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