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After rejecting $98k again overnight, we are seeing Bitcoin testing $95k which is the range lows since Wednesday last week. If this level does not hold then I am looking at $94k where there is still untested 4 hour demand.
If $95k holds as the lows again then we need to see $97.2k (Weekly Open) reclaimed for a potential push to $98.9k. Let's see how the Monday Range plays out.
Yesterday we mentioned how the 2 flat bottom 4 hour candles at $95.6k area were important to watch for Bitcoin. This has given the best reaction so far this weekend but it continues to trade in a sideways range. $97k is 4 hour resistance currently, looking for a close above then we can have more confidence of a push higher.
We can expect more volatility heading into the weekly close which could give us a range break in either direction. $BTC
Yesterday we saw Bitcoin deviate above $98k (Weekly Open) but this was unable to hold. Whilst various altcoins continue to look strong, BTC continues to retrace. An important area to watch is $95.6k where there are 2 flat bottom 4hr candles.
We also have liquidity here so we would want to see a positive reaction. Above the current price I am watching for a 4 hour reclaim of $98k which could then push us towards $100k quickly.
After a strong rejection from $97k, Bitcoin looks to be testing lower levels this morning. If this trend continues then I am looking for a reaction at $93.4k (Prev Week High) which we want to see hold as 4 hour support.
Altcoins are holding up ok for now, with BTC dominance dropping and ETH gaining strength. But be aware that BTC Dominance is sitting at a support level here so could reverse.
Altcoins Gaining Attention: Is an Altcoin Rally on the Horizon?
As the cryptocurrency market begins to shift, altcoins are gaining attention from investors and traders. This renewed interest has sparked speculation about a potential altcoin rally. But which projects have the potential to lead the charge, and what strategies should investors consider? Why Altcoins? Altcoins, or alternative cryptocurrencies, offer a range of benefits and opportunities. They often provide innovative solutions to real-world problems, and their smaller market capitalization can r
Market Buy or Hold: Navigating the Recent Pullback
The recent market pullback has left many investors wondering what's next. As we approach the end of the year, it's essential to assess the current market situation and make informed decisions.
Reasons Behind the Pullback
Several factors have contributed to the recent market pullback, including:
- Global economic uncertainty - Rising inflation - Interest rates
Investor Sentiment
Many investors are now questioning whether to buy, hold, or sell their assets. While some are taking a cautious approach, others see this as an opportunity to buy into the market at lower prices.
Predictions for the Rest of the Year
As we approach the end of the year, several predictions are emerging:
- Some analysts expect the market to recover in the coming months, driven by strong corporate earnings and economic growth. - Others predict further volatility, citing ongoing global economic uncertainty.
Current Strategies
Investors are adopting various strategies to navigate the current market situation:
- Some are taking a firm hold, choosing to ride out the volatility. - Others are looking to buy into the market at lower prices, taking advantage of potential bargains. - A few are opting to sell, choosing to lock in profits and avoid further losses.
Conclusion
The recent market pullback has created uncertainty among investors. However, by understanding the reasons behind the pullback, assessing investor sentiment, and considering predictions for the rest of the year, investors can make informed decisions about their assets.
Whether you choose to buy, hold, or sell, it's essential to stay informed, adapt to changing market conditions, and maintain a long-term perspective. #MarketBuyOrHold? $BNB
Currently we are seeing Bitcoin fighting to hold on to $92.6k (Monday Low.) We can see on the 8 hour chart how this is a key S/R flip level. We want to see this hold as support, but if we start to see acceptance under $92k I expect we will see a retest of the $89.5k area (Prev Week Low.)
We have the release of the FOMC minutes this evening, so there is a chance this brings some volatility.
🚨 Binance Will Delist these tokens on 2024-12-10 🚨
Gifto (GFT)
IRISnet (IRIS)
SelfKey (KEY)
OAX (OAX)
Ren (REN)
Please note:
The exact trading pairs being removed are: GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, REN/USDT
All trade orders will be automatically removed after trading ceases in each respective trading pair.
The token's valuation will no longer be displayed in your wallet after delisting. To view your assets after trading ceases, please ensure you have not selected “Hide Small Balances” in all of your wallets. $GFT $IRIS $REN
Bitcoin is currently seeing a retest of the 4 hour support at $97.5k which we are looking to see hold. If BTC starts to break down from this level then I am watching the $95k-$94k area for a better reaction.
Bitcoin dominance retested the 58% level, which is weekly support, and is starting to bounce as we would expect. Careful in altcoins here- do not over expose.
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Bitcoin has not yet hit the magic $100k figure but we are seeing consolidation above $98k. We are seeing a very tight trading range- every 4 hour candle over the past day has closed between $98.5k and $99.2k. This has led to a drop in BTC dominance and overnight altcoins have started to lead the way.
It is tricky to operate around these levels, with BTC at major resistance, but keep an eye on the 58% area of BRC dominance- This is major support. A bounce from here and alts will retrace, or break below this level and alts will continue to out-perform.