🔥Technical analysis for today

🟢 BTC, there was a correction to the level of 104,800, which I mentioned in previous posts, and I also talked about this correction to this level in the video. What we have currently is still an overheated market with margin and futures long positions. A model with lower highs and lows has formed locally. On the weekly candle, there is a bearish engulfing pattern (but the candle is not yet closed! there are still 3 days left). This indicates at least a retest of the level of 104,800. Locally, there may still be sideways movement with downward squeezes until there is unloading of long positions. Everything above the reversal level at 101,800 is within the norm for a correction within the growth.

🟢 The outflow from exchanges exceeds the inflow by 22%, amounting to 11,000 BTC. - Smart money is buying, paper hands are selling.

📈Altcoins have received a correction locally, which is incomparable to the correction in Bitcoin. Dominance continues to be in a sideways movement. At the zone of 0.618-0.786 on the Fibonacci scale. It has been this way every cycle, it will not grow indefinitely, and it will not remain in a sideways movement indefinitely.