BTC is back in action with support at $22,700. BTCchart and market analysis.
In the past, bullish moves started on the BTC side. Particularly on the positive news from Asia/China, BTC has reached the critical resistance level. 25,250 He tested the dollar many times. This level, which worked as a strong support in the previous period, is the most important situation for the determination of BTC’s direction today. 25,000BTC, which faces intense sellers at the dollar level, as of the current situation 23,400has reached the dollar level.
Bitcoin (BTC) Chart Analysis
BTCConsidering the 1 hour time frame for technical analysis, 25,220it seems that the dollar level has been tried many times and the hard sell has met someone else. of BTCIn order to talk about the bullish scenario, priorities 23,920Permanence should be observed above the dollar level. BTC, if it manages to hold above this level, 24,300 The decision at the dollar level should be observed. Possible bearish scenario is BTC 22,700if it cannot find enough buyers at the dollar level 22,600There may be a pullback to the dollar levels.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
Critical in terms of price BTC has reached the dangerous stage for the level of dominance. approximately percent 43.80 dominanceresponse from the BTC It is trading below the support level for the current situation. Percentage 44 When the dominance level is exceeded, there may be decreases on the altcoins side. In order to observe the possible rise scenario on the altcoins side, BTC dominancepercent of the level 43.60The relaxation process can be followed.
Market Value Analysis for Bitcoin
With BTC price returning from the close resistance point BTCAdjustments were also observed for market value. 440 billion dollarbacked by market value BTC, again 448 billion more than its market value. crypto market risein order to continue, BTCmarket value 452 Over a billion dollars can be expected to persist. Possible dropin the scenario 440 billion dollarmarket value can again act as support.
