In recent weeks cryptocurrency market Has witnessed one of its most aggressive shaking. The latter's heating card showed that amplified traders were seriously influenced by Bitcoin approaching the $ 100,000 limit of over $ 298 million in the previous day.
At a loss of $ 114.46 million, Bitcoin was expected to sweep, followed by Ethereum for $ 65 million. Brunt fell in short positions wiping short positions, pointing to the traditional short squeezing setting. In terms of price, Bitcoin is now trading just under $ 100,000, which shows that its breakthrough rally is still strong.
The property is significantly above all three main moving average (50, 100 and 200 mothers) and the latest Breakout Candle firmly confirms the current rise, securing the strong bullish structure of the daily chart. Although it does not yet indicate exhaustion, RS, which is about 70 years of age, can cause short-term volatility. The growing dominance leads to this violent activity directly.
Bitcoin's dominance has now clearly exceeded the 60% limit, which was a cautious target in the past and suggests that more money is invested in BTC than altcoins. As it is now, this type of dominance growth will usually strengthen the holding of bitcoin during the price increase. The failures are obvious: the strength of the Bitcoin market is currently overwhelming.
You may also like
At $ 100,000, the price of the price is now reaching an important psychological and technical resistance zone. The next realistic range is between $ 105,000 and $ 17,000 when the volume is confirmed. Otherwise, if long/short imbalances are still very high, rejection can cause a rapid decline to $ 92,000-94,000.
As the price and dominance proves, Bitcoin is undoubtedly the best predator on the market. The following sessions show whether Bitcoin creates a new price paradigm or pause before the correction, given volatility and cleaning.
