Reading time: ~2 m
BTC is still holding RTO level, which has been tested many times already, which indicates its weak position.
But the bounces received from the older TF have been scrapped, so the current state of the market can be considered longs to the 0.5 zone or OTE from the last fall. That is, you can look closely at the first shorts in case of a breakdown from the 6H MB zone. Including this zone 0.5 IMB with 12H 21200-21600$. If a reversal does not take place there, then the price may test the origin zone of the last impulse around $22,500.
It makes sense to watch shorts with confirmation, since the price has the right to the level of $23800-24200.
Chart: Bitcoin / TetherUS. Source: Trading View
For several months now, the price has been moving in a fairly wide range, so intraday trading continues.
BTC dominance is also on the rise. The first target is 43%. At the moment of dominance growth, it is difficult to look for longs on alts, which I do not recommend doing. Lately, on the growth of the dominance of the alto is corrected, after which the dominance falls and the alto begins an impulsive growth.
Chart: Market Cap BTC Dominance. Source: Trading View
Observe and build on these data. Domination has the right to test RTO 47-48%. At this time, the alto will be very bad.
Have a profitable week everyone!
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