According to technical analysis, Bitcoin (BTC), which is not yet in the safe zone, can draw its new route in which direction.
Fud news, which shook the crypto money market in the past days, came. Especially the situations experienced on the side of BUSD have caused the crypto investor to be very worried. BTC, which has been on the rise in recent weeks, seems to have been negatively affected by these situations for now.
How can the next moves of BTC, which is not clearly in the safe zone in terms of price?
Bitcoin (BTC) Chart Analysis
Looking at the 1-hour time frame for BTC technical analysis, it is observed that the $25,000 level, which is the condition for big rises, has been tried many times and the sale has met someone else. In order to talk about the bullish scenario of BTC, first of all, persistence above the $23,940 level must be observed. If BTC manages to hold above this level, its movements at $ 24,500 can be followed. In a possible bearish scenario, if BTC does not find enough buyers at $ 23,340, there may be a decrease in price to $ 22,630.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, which is not clearly in the safe zone in terms of price, has come to the risky area for the level of dominance. Receiving a reaction from approximately 43.65 percent dominance, BTC is at intermediate levels for the current situation. With the 44 percent dominance level exceeded, decreases can be observed on the altcoins side. In order to experience a possible rise scenario on the altcoins side, the relaxation process of the BTC dominance level to 43.60 percent can be followed.
Market Value Analysis for Bitcoin
With the BTC price stagnating, restricted movements were also observed for the BTC market cap. Supported by a market value of $ 445 billion, BTC is again at a market value of $ 452 billion. In order for the BTC market value to continue on the uptrend, the BTC market cap can be permanently exceeded by $462 billion. In a possible decline scenario, the market value of 440 billion dollars can act as support again.
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