๐จ Market Update - ๐
An 8% move down on Bitcoin yesterday, which saw many alts dump very hard because of the increasing BTC dominance. Many altcoins are now at prices not seen in weeks or months. Bitcoin held above the DM VAL ($66,475) at every 4 hour close, throughout the sell off, and has reclaimed the 4 hour EMA200 (currently $67,175) this morning. This is a key level and is so far holding as support. If we continue to see this hold, then we have a chance to see a move back towards the $69k area (Monday Low.)
Is the dump over? I would be cautious right now, as this move was likely because of increasing tensions in the Middle East, and therefore out of the control of technical analysis.
