Bitcoin (BTC), which has taken the wind in the last days, started to go into a downward trend with the failure to exceed $ 25,200.
In terms of crypto money markets, it was almost a spring mood under the leadership of BTC. BTC is in a bearish trend after it failed to surpass the $25,250 price, which it tried three times. BTC, which is about $ 24,000 for the current price, may have come to the decision stage.
Bitcoin (BTC) Chart Analysis
Looking at the graphic analysis for BTC in the 30-minute time frame, it can be said that the decision-making phase has been reached. $23,860, which was a strong resistance level in the previous period, is currently acting as a support for BTC. If BTC does not find enough buyers at $ 23,860, the decline may deepen to $ 23,480. BTC, which is trending on the 30-minute chart, can test the $ 25,200 levels again with the break of this level.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
For the current situation, the 44.30 percent level of BTC dominance is working as resistance. If this level is exceeded, it can be expected that the BTC dominance level will reach 44.50 percent, in this case, decreases are possible on the basis of altcoins. With the decrease of the BTC dominance level to 44.05 percent, the way for the rise can be opened for altcoins.
Market Value Analysis for Bitcoin
Looking at the BTC market cap, the market cap of $462 billion, which is the support level for the current situation, is active. In the event that the BTC price reacted with large sales from the $ 25,200 level, there were serious pullbacks in the BTC market value. In order for the upwards to continue, it may be necessary to gain a market value of 481 billion dollars. The decline may deepen when the market value of 462 billion dollars is remained below.
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