$BTC
Acquisition is rising higher. If you want to understand the movement, watch the previous analysis.
Crypto -BTC-ADNAN-حيتان التداول
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#BTC. D
The chart shows the dominance of Bitcoin (BTC Dominance) in the market, on the daily timeframe (1D).
There is a narrow fluctuation range between support at 64.08% and resistance at approximately 64.57%.
The price (or dominance) has been moving sideways within this range for days, without a clear breakout upwards or a breakdown downwards.
Interpretation of the current situation:
Since the price is confined between these two levels, it indicates a state of indecision or accumulation.
Opportunities:
Upon reaching the support level (64.08%), a rebound may occur, which means an opportunity to take profits from Bitcoin (as an increase in BTC dominance typically puts pressure on alternative coins - Altcoins).
Upon reaching the resistance level (64.57%), there may be resistance that temporarily prevents the rise, meaning that alternative coins may find an opportunity to rebound.
A breakout above the resistance means that Bitcoin may gain more control over the market, and alternative coins may decline further, creating a buying opportunity after corrections.
A breakdown below the support means that Bitcoin dominance may decrease, potentially giving a strong upward opportunity for alternative coins.
In summary
Inside the range = Quick speculation buying and selling between support and resistance.
Outside the range (breakout or breakdown) = Significant directional change and greater opportunities.
The chart shows the dominance of Bitcoin (BTC Dominance) in the market, on the daily timeframe (1D).
There is a narrow fluctuation range between support at 64.08% and resistance at approximately 64.57%.
The price (or dominance) has been moving sideways within this range for days, without a clear breakout upwards or a breakdown downwards.
Interpretation of the current situation:
Since the price is confined between these two levels, it indicates a state of indecision or accumulation.
Opportunities:
Upon reaching the support level (64.08%), a rebound may occur, which means an opportunity to take profits from Bitcoin (as an increase in BTC dominance typically puts pressure on alternative coins - Altcoins).
Upon reaching the resistance level (64.57%), there may be resistance that temporarily prevents the rise, meaning that alternative coins may find an opportunity to rebound.
A breakout above the resistance means that Bitcoin may gain more control over the market, and alternative coins may decline further, creating a buying opportunity after corrections.
A breakdown below the support means that Bitcoin dominance may decrease, potentially giving a strong upward opportunity for alternative coins.
In summary
Inside the range = Quick speculation buying and selling between support and resistance.
Outside the range (breakout or breakdown) = Significant directional change and greater opportunities.
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