Bitcoin and Dominance chart Review Update #27 ?

khalil319 (54)in DIGITAL MINE • 5 years ago

Bitcoin chart review

BYBIT: BTCUSD 240 CHART

BTC and Dominance Chart Published By Philosof at Tradingview
https://www.tradingview.com/u/Philosof

Comment: Bitcoin broke out bull pennant (if only that was work day, CME gap would be closed), hit second "red" resistance zone marked on chart (today moved it higher to suit recent price action) and pulled back to the same level where it has started.

Pivot at 7050. Minor support at 7100. While above, may continue building higher lows, but after latest moves 6900 seem to be "closer". Therefore I leave same SR zones below as yesterday.

COINBASE: BTCUSD 1WEEK CHART

Week chart with line price instead of candles. Show clear SR zones on macro level. From this point of view chances BTC will overgrow red resistance zone in one impulse are very very low. Most probably there will be a pullback to one of lower support zones. Since this is week timeframe, we are talking about 3-5 weeks period.

Resistance: 7170 - 7255 ✅ 7475 - 7800
Support: 6900 - 6775 - 6600 - 6420

Fear & Greed index: 16 (<= 18 <= 15 <= 13 <= 18)
BTC Dominance: 63.4% (<= 63.8 <= 64 <= 63.9)
24h Volume: $136 billion (<= 113 <= 151 <= 136)

#BTC #Bitcoin

BTC DOMINANCE CHART

CryptoCap: BTC.D 1W Chart

CryptoCap: BTC.D 1D Chart

BTC dominance came back to ~64 support. It is an important level, that will either cause another bounce (and alts will fall), or will be broken, and in this case there will be an alts season. Next week will be clear. Week and day charts attached.

P.S. Most often dominance grow when BTC falls.

#BTCdominance #Dominance

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