#BTC rejected from the local resistance area and made a bear | Crypto_Psychic on Binance Square

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#BTC rejected from the local resistance area and made a bearish engulfing candlestick formation. Price formed a minor liquidity and can move further high towards the resistance area of $116,700.
$BTC #BTCUnbound 

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Bitcoin tried to break above 115K, but so far unsuccessfully. We saw a rebound from 115.7K and are now back around 114K. ❗️The only thing to note is that dominance has started to decline, which allowed altcoins to begin rising while BTC remained in place. ⚠️However, it should be understood that in the case of a full rebound of BTC from 115K, the price will start to slide down, back to 112K — here even the decline in dominance won't help much, and we will see another drop across the market. Therefore, the positive scenario is a return and consolidation above 115K in the near future. #BTCUnbound #BTCReserveStrategy $BTC

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#TOTAL MARKET CAP ANALYSIS The total crypto market cap is rebounding strongly from the support trendline of the descending broadening wedge. It's now testing the 100MA and 200MA a breakout from the pattern would confirm further bullish momentum. Keep an eye on it. #marketcap

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#BTC/USDT ANALYSIS Bitcoin is rebounding from the horizontal S/R level, facing resistance at the 50MA and support from the 100MA. A breakout above the 50MA and descending trendline signals a bullish trend, while a breakdown below the 100MA may trigger a correction. #BTCUnbound #bitcoin $BTC

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Bitcoin is gradually approaching the $116,000 resistance level, and we should observe how it reacts in that area. The weekend began with a green candle, and hopefully, this upward trend will continue into the week. Additionally, there is a rising wedge pattern on the lower timeframes, so we’ll see which direction it breaks. $BTC #BTCUnbound #MarketRebound

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