📊 Current market situation:
1. Total Market Capitalization Chart:
o The chart shows a bullish bull flag pattern and the price has broken the upper boundary of the pattern. This signals potential for further growth.
o The price is also above the Ichimoku cloud, which confirms the uptrend. The Ichimoku cloud acts as a support level at 2.214 trillion.
o Volume profiles show important resistance at 2.446 trillion that could cap the upside.
2. Fibonacci levels:
o Main support and resistance levels:
0 (2.301 trillion)
-0.27 (2.351 trillion)
-0.62 (2.416 trillion)
-1 (2.487 trillion)
o Levels below zero:
0.5 (2.208 trillion)
0.62 (2.186 trillion)
0.705 (2.177 trillion)
0.79 (2.154 trillion)
1 (2.115 trillion)
1.618 (2.0 trillion)
3. RSI for#Bitcoinand #Ethereum:
o #Bitcoin:
24-hour RSI: 61.65, indicating positive market sentiment but approaching the overbought zone.
o #Ethereum:
RSI for 24 hours: 57.79, which also signals a positive trend, but with the possibility of a correction.
4. Fear and Greed Index:
o The index value is 70 (greed), which indicates bullish sentiment among market participants. However, it may also indicate a risk of correction in the near future, as high greed often precedes a pullback.
5. Index of altcoins:
o The value is 18, which indicates that the current week is mainly focused on #Bitcoin, rather than altcoins.
🔍 Market conclusion:
1. Growth 📈
o The probability of growth is 55%. If the price breaks the level of 2.301 trillion, the next targets will be 2.351 trillion and 2.416 trillion. With high trading volume, growth to 2.487 trillion is possible.
2. Correction 📉
o Correction probability is 30%. In case of a pullback, the most likely support levels will be at 2.208 trillion and 2.186 trillion. A break below these levels could send the price to 2.115 trillion.
3. Consolidation 📊
o Consolidation probability is 15%. This could happen in the range of 2.208 trillion - 2.301 trillion, while the market waits for new catalysts for further movement.
Key findings:
• 📈 The priority scenario is continued growth, especially if greed in the market persists.
• 📉 There is a risk of correction, especially given the high greed index.
• 📊 Consolidation is possible within key levels until the resistance of 2.301 trillion is broken.
#Bitcoin #ETH #BTC #altcoin #DOGE