Crypto Market Analyst Rek Capital, Bitcoin $84,209.08He said that re -re -re -taking critical technical indicators in the weekly graph may be necessary for the continuation of the rise acceleration. Analyst said that Bitcoin price movements resembled a similar consolidation period in 2021.
Bitcoin Technical Analysis
Rekt Capital, Bitcoin’s weekly graph, two -limiting average between the two exponential moving average, and the 21 -week moving average is important to turn into support level, he said. It was said that the price was expected to decline this line by increasing a certain level.
Rekt Capital: “At the beginning of this week, Bitcoin rejected the 21 -week moving average resistance. This level, which soon turned into support, is likely to trigger the re -rise of price movements.” – Rekt Capital
Altcoin Market Opinions
In addition to Bitcoin’s technical indicators, Analyst shared his views on the Altcoin market. According to the BTC Dominance graph, Bitcoin’s market value was expected to be behind the performance of the subcoins before they deviate from a certain level of resistance.
Rekt Capital: “Bitcoin Dominance returns from 71 %, it is possible that the Altcoin season will begin.” – Rekt Capital
Bitcoin is traded for 82,536 dollars during the period of the news, BTC Dominance is around 62.26 %. Analyst said that these data may be the harbinger of the expected mobility of the Altcoin market.
Technical analysis signals and market data show that resistance and support zones in Bitcoin can shape near future price movements. This is considered as an area that needs to be followed carefully for investors.
Although the indications specified provide clues about the general course of the market, investors should also review the risk management strategies. Closely monitoring of indicators can be prepared against possible fluctuations.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
