A new week is about to come.
First, let's look at Bitcoin's market share. Since ETH led the rise in July, Bitcoin's dominance has continued to decline. Only during altcoin pullbacks has there been a noticeable return of funds to Bitcoin, resulting in a slight rebound in market share. This is reflected in Bitcoin's price as ongoing wide fluctuations.
So, will this week bring about a strong Bitcoin performance?
From the perspective of market share, there seems to be a slight upward turning point, contingent on continuous funds flowing back into Bitcoin. If altcoins led by ETH show signs of peaking and start to decline, funds will continue to flow back to Bitcoin.
Over the weekend, Bitcoin slightly surged, leaving a clear weak signal near the descending trendline at a high consolidation level.
On Sunday morning, with ETH experiencing a rise but facing stagnation, funds clearly flowed back into Bitcoin, leading to an upward breakout that caught the shorts off guard.
I want to see Bitcoin continue to rise strongly, with funds continuously flowing back from altcoins into Bitcoin. This is something we must observe.
Breakthrough of the descending trendline, at the 4H level, Bitcoin only slightly retraced, with intraday fluctuations moving upwards. Preparing for a continued upward rebound.
From tonight until tomorrow's pre-market of US stocks, the pullback still presents an opportunity for low buys.
Resistance levels: 118500/119500/120660
Support levels: 117500/116400/115200/113700/112800