Ismashprofit
$BTC Analysis📍$BTC Analysis
October 29, 2021
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BIAS:
Mid-Term: Bullish
Short-Term: Neutral
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Getting near to our monthly close (which will occur in less than 72 hours), expect an increase in volatility, volume, and push from both the bulls and the bears.
$67167.00 is currently acting as our strongest resistance (Current All-Time High) and $57925.00 as our most important mid-term support.
We need a break either above or below the aforementioned levels in order to confirm a new significant midterm move, which is getting closer every single second
Up Probability: 52% - Down: 48%
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Best Regards, iSmashProfit™
$BTC dominance has fallen to a lower levelTimeframe: 4H
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BTC dominance has fallen to a lower level.
Right now we are expecting a more downward movement in dominance which is good for money will flow from BTC to altcoins.
$BTC needs to be stable so that altcoins can move well.
Once BTC gets stable at ceratin alts will move.
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Best Regards, iSmashProfit™
$BTC AnalysisThe price has been -9% down in a matter of days, after reaching a new mid-term lower low of $58,017
The $57930.00 - $56730.00 Decent support has been found around this area, meaning that we could build up short-term bullish momentum from here, enough for a couple of higher leverage shorter-term scalps.
The most important level, for now, has become $60,638 which was just turned into resistance and should be broken to the upside in the next few days to prevent further downside.
Up Probability: 42% - Down: 58%
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Closely watching the market for both long and short scalping entries on higher leverage. Spot long positions should be benefited greatly by our last move, as it gives us a chance to average down on them before a stronger move.
As always, stay safe brothers!
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Best Regards, iSmashProfit™
ALTS MARKET CAPOur Toal Alt-Market Cap has just confirmed a higher time Frame (4H) breakout of the bull flag formation we were in the past week, at around $1.43 Trillion meaning that factoring in current BTC price action and BTC Market Dominance, we will likely see a decent consignation in it
VIP EXCLUSIVE: Strongest resistance is currently at around $1.58 Trillion for Alt-Market Cap, meaning it’s the level that we’re aiming for in the next couple of weeks/months. If we manage to reach this level, we’re likely seeing a steep drop in BTC Market Dominance, which would remain between our current ranges and $68,000 - $72,000.
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Best Regards, iSmashProfit™
$BTC Dominance UpdateTimeframe: 1D
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Currently, our strongest resistance for BTC Market Dominance lies at around 47% (which is also confluent with our 200 EMA on the Daily).
This is a very important level to watch, as we’re expecting Dominance to remain below it in order to see the alt run we’re expecting to top off the year.
A break and close below $43.42 are what we currently need to confirm a mid-term Dominance correction and further alt upside.
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Best Regards, iSmashProfit™