Bitcoin Correction and Alts are Dumping

Hello Everyone and happy Friday! ☕️

Here's the latest update about Bitcoin and altcoins.

Bitcoin went up, then down, and balanced between two price ranges. $BTC bounced back from $69300 to $66,100. It's trying to find its way amidst some resistance points.

The recent rejection at $69k was actually a good sign, fixing some imbalances. But there are hurdles ahead, like previous highs and trendlines.

Bitcoin might dip again, forming a continuation pattern. But don't forget, its long-term prospects still look good.

The correction of BTC results in altcoins dump and almost major altcoins are down from 20% to 30% because BTC dominance is increasing. $ETH is currently trading at $3280. $SOL is back at $170. $BNB is not down much because of its launchpool project $Saga and currently trading at $580. The other major altcoins like $PEPE $Doge $XRP $shib $wif $Bonk $ARB and $ENA are down too.

Now what is required, A daily close above 69k is required for a bullish continuation.

At the moment I consider it more likely to revisit the 61k area rather than make new highs.

So if you are in profit especially in Short position, take profit and if you are in loss then don't forget to do DCA in good coins.

#BullorBear #BTC #BinanceLaunchpool #SHIB #WIF #HotTrends #write2earn #SOL