The price danger in Bitcoin (BTC) still continues, can BTC, which has settled at the level of $ 22 thousand 300, leave and rise?
Increasing Fud news in the crypto money market has seriously affected the price of BTC. BTC, which is at $ 22,350, may need positive news to rise again. Crypto investors are in a panic mood with this fall of BTC.
What could be the next direction of BTC, which is not clearly in the safe zone in terms of price?
Bitcoin (BTC) Chart Analysis
Looking at the 4-hour chart on the BTC side, it can be expected that the $23,000 level will be permanently exceeded in order to continue the upward trend. BTC, which is currently in the intermediate position, may experience pullbacks up to $ 21,500 if it cannot find enough buyers in the crypto market. Faced with Fud news for the current situation, BTC has entered a difficult process.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC, which is not clearly in the safe zone in terms of price, has also come to the decision area for the dominance level. Receiving a reaction from approximately 43.60 percent dominance level, BTC is in the intermediate area for the current situation. With the 43.70 percent dominance level exceeded, there may be decreases on the altcoins side. In order to talk about the possible rise scenario on the altcoins side, the relaxation process of the BTC dominance level to 43.10 percent can be followed.
Market Value Analysis for Bitcoin
With the collapse in the BTC price, sharp movements were observed for the BTC market value. Supported by a market value of $431 billion, BTC is hovering above the market value of $431 billion. In order for the BTC market value to continue on the uptrend, the BTC market cap can be expected to exceed $452 billion permanently. In the possible downward scenario that may continue, the market value of 417 billion dollars can act as support.
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