Dear traders,
Here is a new analysis for Bitcoin which is leading the market right now. BTC dominance in the market has increased greatly and if that continues it will be even more bad for ALT coins then it already is. That is why it is so important to follow Bitcoin closely. I hope this charts help with that.
You are looking at the 6 hour chart here and Bitcoin is currently forming a triangle without a breakout yet.
A breakout downwards from the triangle will see 33400 and 30000 very quickly. I don't expect that but anything is possible of course as these analyses are pure hypotheses.
By the way, this is how I personally think it will go. Many will have a different views and that makes sense after these declines but this is my view on Bitcoin.
In short:
Target 1 42000
Target 2 48000
Target 3 51000
Target 4 53000
Support 33400, 30000, 29000
If we drop below 29000 USD then we are going to experience a very bad period for the crypto market and I don't expect it yet. Anything is possible of course and therefore the analyses should be followed up and adjusted because the market moves very fast with this hyper volatility.
----->> Dear traders please follow me for updates and if you give me support with a like👍 then that will motivates me a lot to continue💚 - Thanks guy's! <<---
Safe and happy trading!
Disclaimer Traders this is my view no advice to buy or sell. Also always do your own research!