🚨Bitcoin dominance breaks a negative rising wedge pattern, which is a good indicator for further declines. The nearest support area is at 63.65%. If broken, we will see good rallies for alternative coins.
👈If the decline continues and the 61.90% area is broken, there will be explosions for alternative coins, God willing.
We are monitoring and will update you, good luck to everyone#dominancebtc
Update on the status of $ETH . The price is currently trading around 2600. It faces clear resistance near the 2600 - 2800 area, which it recently failed to break through and has started to correct from. 🔸 Important supply and demand areas:
🟩 Supply areas (Resistance)
1. 2600 - 2800 is the current resistance area, from which prices have previously retreated. 🟦 Demand areas (Support)
1. 2100 - 2200 is a close and sensitive support. Breaking this level could open the door for a wider decline, and it is currently crucial to maintain above it. If it holds above, our targets will be:
3109 first target 3301 medium target
3578 long-term target if the current supply areas are broken. 🔻 Stop-loss or negative reversal levels:
2065 and 2210 are critical levels indicated by short Fibonacci lines representing stop-loss or re-test levels. 📌 Possible scenarios: ✅ Positive scenario
Continuing to hold above 2400.
A clear and stable break above 2600 – 2800 could open the way towards targets of 3100 – 3300 then 3570. ❌ Negative scenario:
A clear break of the 2200 – 2100 area could bring the price back to 1800. The market is currently in a state of fluctuation at strong resistance. Continued holding above 2400 may maintain the bullish outlook.
🚨Maintaining stability above the trend and above the 50 moving average is a positive sign for continued upward movement. 👈Breaking 109960 with a four-hour candle will lead to further upward movement and possibly a new peak. 👈Breaking 109390 and closing below it for four hours may lead to a break of the trend and we might see a minor correction, and God knows best.
We will monitor and update you, and good luck to everyone❤
👈 Has the correction ended? Yes, the price can rebound from the current levels but it is likely that the correction will continue until the price gap on the daily frame is closed and tests another peak to ensure the correction is healthy and excellent for a strong rise.
✅ The best thing to do right now is to buy a portion of the current price and reduce buy orders by -5% and -10% to fully take advantage of the correction.
As we said, we have started a wave of rise and every correction is an opportunity for buying and accumulation.
🚨Bitcoin is trying to break through resistance, so far there has been no breakthrough. It must break through the area of $96,250 and close a four-hour candle to start the positivity and confirm it with a daily candle close.
If this breakthrough occurs, Bitcoin will target the area of 102,000, God willing.
We are monitoring and updating you with everything new, and good luck to everyone❤