Bitcoin (BTC), which is priced above $ 28 thousand, continues to carry the crypto money market upwards, can the bullish scenario continue in BTC?
BTC, which started to accelerate with the wind behind it, continues to price above $ 28,000. The declining FUD news and the continued uptrend in the market have paved the way for BTC’s rise. The pioneer of cryptocurrencies continues on its way, accompanied by decreasing negative news from the sector side. Aiming at $30,000 in terms of technical analysis, BTC makes crypto investors smile for the current process.
Bitcoin (BTC) Chart Analysis
BTC, which has seen the peaks in the recent period, can rise to the level of $ 30,000 if it exceeds the $ 28,480 resistance in front of it. Considering the four-hour chart, the $27.150-$26,835 levels, respectively, seem likely to work as support in possible bearish scenarios. In the scenario where there are possible FUD news, the decreases can be deeper and pullbacks can be observed up to the $25,000 levels.
Market Value Analysis for Bitcoin
BTC, which has a market value of $ 520 billion, seems to have moved towards a market value of $ 557 billion. With BTC price and near-level resistances at dominance level to be overcome, $557 billion in market cap can be targeted. In adverse situations that may occur, the value of the BTC market may decrease up to 520.5 – 512.2 billion dollars, respectively.
Bitcoin Dominance, What is the Latest Situation for Altcoins?
BTC Dominance, which started to attack from 46.19 percent levels, is on its way to 48.45 percent levels. To observe a rise on the altcoins’ side, the loosening process of BTC Dominance towards 46.89 and 46.19 percent levels can be followed. In the scenario where BTC Dominance reaches 48.45 percent, altcoins may sound danger alarms for depreciation.
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