Bitcoin (BTC) continues its decline that it started recently, how is the price level and market conditions on the BTC side?
BTC, which started to fall in price after the last meeting held by the Fed, has not yet been able to throw itself to the level of $ 23000. The upward trend since the $ 15,500 levels has created great opportunities for both BTC and altcoins. Parameters such as meetings, interest and inflation in the global economy continue to shake BTC. Last weekend, we saw retracements to the $ 22,600 level in BTC. Pullbacks to this strong support aroused fear in investors.
Current Analysis for BTC, Where Is The Price Heading?
Looking at the BTC chart in the 30-minute time frame, it is seen that it is actually at the intermediate price. There were pullbacks to the $22.965 level when the strong support remained below the $23,300 level. Investors failed to take a strong stance for BTC price, sellers showed dominance. BTC is settled at the price between $22,965-22,560. According to the reactions it has received at this intermediate price, if it rises above $22,965, it is possible to retrace the $23,300 levels, and if it falls below the $22,560 level, pullbacks to $22,280 can be observed.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC has turned the dominance level of 43.37-43.33% into support in the thirty-minute time frame. A possible bullish scenario on the basis of altcoins may start with the break of 43.34–43.33 support. For BTC dominance, reaching the level of 43.68 to 43.98 may cause price pullbacks on the basis of altcoins.
Market Value Analysis for Bitcoin
BTC, the leader of the crypto industry, has begun to lose strength in recent days. BTC, whose market value has been decreasing for a long time, has decreased again in recent days, although it has shown strength, BTC, which continues to protect its market value of 429 billion dollars as support, has run the market value of 452 billion dollars as resistance in the bullish scenario.
The current price of Bitcoin is as follows;
Bitcoin (BTC)
29760
