Bitcoin dominance has recently experienced a significant upward trend, reaching 64.96% on the daily timeframe. This surge highlights Bitcoin’s growing strength 💪 relative to the broader cryptocurrency market. Currently, dominance is approaching a key resistance level at 65.79% 📈, which is considered a potential reversal zone 🔄.
🧠 Technical Overview
A closer look 🔍 at the recent momentum in Bitcoin dominance reveals signs of a maturing uptrend 📶. As the indicator nears historically significant resistance levels, the probability of a downward correction 📉 increases. Based on time-based analysis ⏱, signs of a pullback are expected to emerge within the next 7 to 14 days 📆 from the point of touching or nearing the 65.79% level.
🎯 Potential Correction Targets
If the anticipated reversal materializes, the correction targets are as follows:
First Target: A retracement to the 60% level, which has acted as prior support 🛑 and could temporarily halt further declines.
Second Target (deeper correction): A move down to 52%, a strategic support level 🧱 that could pave the way for altcoins 🚀 to outperform.
🧠 Technical Overview
A closer look 🔍 at the recent momentum in Bitcoin dominance reveals signs of a maturing uptrend 📶. As the indicator nears historically significant resistance levels, the probability of a downward correction 📉 increases. Based on time-based analysis ⏱, signs of a pullback are expected to emerge within the next 7 to 14 days 📆 from the point of touching or nearing the 65.79% level.
🎯 Potential Correction Targets
If the anticipated reversal materializes, the correction targets are as follows:
First Target: A retracement to the 60% level, which has acted as prior support 🛑 and could temporarily halt further declines.
Second Target (deeper correction): A move down to 52%, a strategic support level 🧱 that could pave the way for altcoins 🚀 to outperform.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.