Bitcoin $94,016.88 The fact that the dominance approached the final stage of the rise tendency led to more focus on Altcoins in the crypto currency market. Analyst Rek Capital said that dominance is moving towards 71 %, and the decreases to 64 %will have the meaning of re -test in the market. In parallel, it was emphasized that Altcoins will gain strength and that investors would turn to diversification. Market players watch whether critical support points will be preserved and are prepared for short -term fluctuations.
Bitcoin dominance and subcoin strategies meet in the market
According to Rekt Capital, Bitcoin dominance is the last leg of the macro rise trend. Analyst clarified this stage with the words “Bitcoin Dominance Has One Final Leg Left in Its Macro uptrend on the road to 71%. Investors will first seek support at the bottom level so that dominance can move towards 71 %. In this process, the capital to be divided into Altcoins can change the dynamics of the market.
Rekt Capital also described the points where domination decreased to 64 %as the “retcet” step. If this test is successful, Bitcoin will sail for new summits. On the other hand, dip tests can increase the volatility by increasing interest in Altcoin projects. Therefore, the crypto currency portfolio balance is critical in the short term.
Technical importance of graphic formations and support levels
The critical support level in the week graph is determined as 93,500 dollars. Analyst, “Bitcoin Has Rejected from the Lower High Resistance (Black Diagonal). Going Forward, Bitcoin Will Need to Hold The $ 93,500 Range Low to Full Confirm A Reclaim of the Range,” he drew attention to the preservation of this level. This price band plays a key role for the continuity of momentum.
Rect Capital said that the scenario could be repeated by showing an example of a similar model in the past. The movement in question was the return of $ 99,000, holding on 93,500 dollars, then exceeding the 97,000-19,000 band and finally rising to $ 104,500. The re -processing of the same steps can allow Bitcoin to act in accordance with analyst expectations.
Bitcoin’s current price is around $ 94,604 and lost about 1.1 %in the last 24 hours. Market participants determine their purchase-sale strategies by following whether these levels are preserved.
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.
