BTC slumped below $24,000, causing pullbacks in the crypto market, coming to the critical stage BTCHow can it show the way?
Bitcoin (BTC) Chart Analysis
Analyzing the 1-hour chart for BTC technical analysis, 25,200 It looks like the dollar level has been tested twice and the hard sell has faced another. If BTC’s $ 25,000 level, which has functioned in volume for support / resistance in the previous processes, is exceeded and permanence is provided. 26,600 An increase may occur up to the dollar levels. In BTC price, 25,200with sequential support levels if the dollar level is not exceeded, 23,620– 23,340Retracements to dollar levels are possible.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTCif the price goes up dominanceWith the increase in the level of the altcoins, the price movements on the basis of altcoins did not occur much. of BTC 24,000 Seeing its persistence on the dollar, investors began to slowly turn to altcoins. Currently, approximately 43.96BTC with dominance, percentage with the next resistance point 44.30If the dominance value starts to move, a price decrease can be observed on the basis of altcoins. Altcoins rises forwhereas, BTC dominancepercent of the level 43.70It can start with relaxation.
Market Value Analysis for Bitcoin
With the rise in crypto markets in the light of positive news from China BTC, as the recent peak of market value 487 billion dollar had tested it. Acting as a strong support during the downturn of the crypto market 487 billion dollarThe market cap is currently working as a hard resistance level ahead of BTC. BTCat the price 25,200 By crossing the dollar level, close peaks in market value can be tested. Possible BTCIf the market value declines, 452 billion dollarregression can be observed. BTCmarket value, 467 billion dollarIf it cannot find enough demand at 447 billion dollarIt may decrease to market value.
