Bitcoin (BTC) underwent an inevitable fracture. But the majority of higher-capitalized altcoins seem to suffer from this bullish trend, which raises the question: Did we really have Altssen? Is this the end or not at all?
Bitcoin has digested recent resistance levels like Pacman during the last amphetamine-fed rampage, crushing $ 11,300, then $ 12,400, then $ 13,100, and then rejecting around $ 14,000.
After $ 14,400, there will be little resistance until they reach $ 17,000 before the new all-time peak of the king of cryptocurrencies is printed. But the question is, can bitcoin be over?
Well, the dominance of BTC has been skyrocketing since September, indicating that altcoins are being sold, that bitcoins are accumulating above this last level of resistance.
The 4-hour market cap dominance chart shows that BTC is currently at 64.8%, with very little resistance in the 67.80% range, up 4.44% and 68.98%, respectively. , an increase of 6.34%.
These numbers may seem small, but the negative impact on major digital currencies is holding back the trunks of the most popular projects in space.
A few months ago, people were cheering for the liquidation of Zeus Capital for $ 20 million when LINK traded for less than $ 10. In December 2017, the price used a similar trick for bitcoins, exceeding the expected $ 10 price and exceeding the price up to $ 20 before the correction.
LINK’s latest rebound was around $ 7.50. If that number reappears, I think Marines are starting to lose their love for their favorite LINK because based on previous levels of support and resistance, $ 6.50 is likely to appear day by day.
Probably the whales knew, too, because 400,000 LINKs were sent to Binance today.
If we get back to what happened at the $ 20,000 level with Bitcoin, it will take a good three years to get back to those levels. Thus, smart coins like LINK can pile up to the next big milestone to be loaded into Bitcoin.
I monitor this closely where it falls. But for now, it seems that another major currency has already done this, which could pave the way.
I’ve seen a lot of people order $ 300 in the ETH in the short term, but I personally don’t see it. In fact, the ether appears to have continued to register higher lows since late August and is floating well in the upward channel.
Support for the channel remained unchanged for a few months, after $ 370 after a rejection to $ 400. If this pattern continues and overcomes the average resistance of around $ 400, I expect a clear rise to $ 440 in the near future.
If the ether loses lower channel support, I would expect $ 350 and $ 310 support, which is 0.236 and the total Fibonacci retracement level shown below.
Like Ether, Bitcoin is currently at the bottom of a bullish channel on three levels you should be aware of:
The upper resistance level of around $ 14,400 is a breakable level, so the $ 17,000 bitcoin is starting to get bored.
Medium resistance around $ 13,800 (around the current spot price) – Breaking above this level means greater resistance as the next target. During the break below, the next goal is to support the lower channel.
Lower Channel Support – This level is likely to be maintained based on the heat book data in the order book. However, if requests disappear before they arrive, further breakdowns may occur. If not, pursuing the $ 13,300 brand would be a good entry into a possible outbreak.
Hourly heat map for BTC / USDT
The image of the bullish channel is reinforced by the heat map in Binance’s order book, which shows a three-tiered buying wall on the lower channel support, followed by weaker selling walls at the middle and upper resistance levels at $ 13,800 and $ 14,000, respectively.
What worries me about this data is that I had previously seen a large triple block on the heat map, disappeared in a collision and tricked knife-hunters into longing for a longing that seemed like a solid support, when in fact there is a multi-level acquisition. walls totally up to $ 12,800.