DOMINANCE IS ON HISTORICAL LONG-TERM SUPPORT WHAT'S NEXT?🧐MARKET CAP DOMINANCE TECHNICAL ANALYSIS 🚨
In the weekly time frame, dominance is currently bouncing off a crucial support level that has been in place since January 2018. This level holds historical significance and is critical for the market. The market's proximity to this support suggests the possibility of a local top, although predicting Bitcoin's movements can be challenging.
Some investors anticipate significant losses, which could lead to capital inflows into altcoins. However, many remain optimistic about a breakdown beyond this trendline, given the deviation in current price action from previous rallies.
It is crucial to monitor investments and manage portfolios cautiously. While our market entry guidance was helpful, it is prudent to heed this warning. The weekly close will provide clearer signals for confirmation.
An interim shake-off before or after the halving seems inevitable, and preserving profits is paramount. The current bull run could lead to BTC reaching $140k to $190k, but a shake-off before that may be necessary.
This chart serves as a valuable aid in making informed trade decisions and is intended solely for educational purposes.
Your insights and perspectives on the charts are highly appreciated and can be shared in the comment section.
Thank you for your contribution.
AMEX:USD CRYPTOCAP:USDT.D #DYOR #NFA
