$BTC today‼️
Stagnation in Bitcoin price may become a catalyst for growth of the altcoin market. Read more.
The 200MA moving average is the hero of the day today, on Sunday evening I noted the price consolidation above the values of the said moving average. After this note, the Bitcoin price continued its upward movement. The bulls were strong today too.
It is worth noting that the information leaks about the US government debt are an old horror story, but it has not been solved and I see a possible problem for the markets in this factor.
At the same time, the latest growth of the S&P 500 and the formed ascending triangle demonstrate a decrease in the strength of the bulls.
Reasons for a fall:
Stock market correction;
US government debt;
A weak dollar that may begin to recover;
Tariffs and the confrontation between the US and the BRICS countries.
Therefore, we are not looking for reasons for growth, we are looking for reasons for a fall.
If in the coming hours the bulls fail to hold the price above the 200MA values, the price will enter a stagnation phase.
It is likely that at this point the Bitcoin price dominance will begin to decline, which will have a positive effect on the price of altcoins.
Bullish target:
TG1: $108,360
Bearish target:
TG1: $107,400
Profit to all💰💪
