๐จ Market Update - ๐
The 4hr Bitcoin resistance at $117.5k, which I have mentioned yesterday, has still now been broken and once again we have seen a rejection from this area. This has gone unnoticed as altcoins, lead by Ethereum, are really outperforming BTC currently. This rejection by Bitcoin means this 4hr downtrend, in place since the All Time High last month, has still not been broken.
Once this resistance sees a breakout, BTC could move towards $119.7k which could see BTC dominance rise and less movement on alts.