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Bitcoin Analysis:
As I've mentioned in many of my previous analyses, the current bullish flag is one of the most bullish patterns in technical analysis. This pattern typically indicates a strong continuation of the upward trend. Based on this pattern, I expect Bitcoin to target $80,000 gradually . However, it's important to note that Bitcoin might gain less dominance than it has now.
Bitcoin Dominance Analysis:
If we look at the Bitcoin Dominance chart, we can see that the pattern is running out of steam. Currently, the dominance resistance stands at around 57.16%, but I expect this to correct to around 50%. This correction in Bitcoin dominance, combined with a gradual increase in Bitcoin's price to $80,000, will provide an opportunity for altcoins to benefit more from the overall market increases.
Total Market Cap Excluding Bitcoin (TOTAL2) Analysis:
In the TOTAL2 chart, we can also see a bullish flag formation. This pattern suggests that the total market cap for altcoins is likely to target the all-time high of 2021. This is a positive sign for altcoin investors, indicating potential growth across the broader altcoin market.
Investment Strategy:
It's important to remember that not all altcoins will see significant increases. Since it's challenging to predict exactly which categories will perform the best, it's wise to build a diversified portfolio. Additionally, always follow strict money management principles and ensure you have cash aside to take advantage of market opportunities or to cushion against potential downturns.
As I've mentioned in many of my previous analyses, the current bullish flag is one of the most bullish patterns in technical analysis. This pattern typically indicates a strong continuation of the upward trend. Based on this pattern, I expect Bitcoin to target $80,000 gradually . However, it's important to note that Bitcoin might gain less dominance than it has now.
Bitcoin Dominance Analysis:
If we look at the Bitcoin Dominance chart, we can see that the pattern is running out of steam. Currently, the dominance resistance stands at around 57.16%, but I expect this to correct to around 50%. This correction in Bitcoin dominance, combined with a gradual increase in Bitcoin's price to $80,000, will provide an opportunity for altcoins to benefit more from the overall market increases.
Total Market Cap Excluding Bitcoin (TOTAL2) Analysis:
In the TOTAL2 chart, we can also see a bullish flag formation. This pattern suggests that the total market cap for altcoins is likely to target the all-time high of 2021. This is a positive sign for altcoin investors, indicating potential growth across the broader altcoin market.
Investment Strategy:
It's important to remember that not all altcoins will see significant increases. Since it's challenging to predict exactly which categories will perform the best, it's wise to build a diversified portfolio. Additionally, always follow strict money management principles and ensure you have cash aside to take advantage of market opportunities or to cushion against potential downturns.
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