BTC.Dominance (Retest 40 Level?)

💎Technical Analysis Summary💎



BTC.Dominance

-Bitcoin Dominance chart is rejected by the 50D MA last May 23rd
-As of now, the price level keeps decreasing, and respecting this channel
-This descending channel is technically bullish
-If the price level breaks to the upside, the Altcoin space may suffer
-Currently, It is facing rejection at 0.5 Fib and trendline resistance
-There is a potential retest of the previous swing low at 39.6 level
-If we will see a strong bounce from that support level
-Be cautious about your altcoin positions especially if using leverage
-But if the swing low of support failed
-Expect a good run for the altcoins in the coming weeks
-For now, everyone is waiting for a good market direction
-Bitcoin on the other hand still consolidating around 37k dollars
-I'm expecting BTC to move sideways in the coming days
-With a potential 5%-10% volatility movement
-So please manage your risk and don't over leverage
-Weekend is coming, stay healthy and safe!



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