What is #BitcoinKeyZone ?
'Bitcoin Key Zone' is a term used to refer to an important price area on the Bitcoin chart, where it can have a significant impact on price trends. These are price levels that Bitcoin has reacted strongly to in the past, such as support or resistance zones. When Bitcoin enters this area, traders often watch closely for signs of a potential reversal or continuation of the trend.
Currently, Bitcoin is believed to be in the 'Key Zone' when its dominance rate is around 57%. If this rate exceeds 58%, Bitcoin may enter a strong upward phase, but if it drops below 57%, altcoins may start to rise in price.
Accurately identifying the 'Key Zone' often relies on technical analysis, including examining previous highs/lows, large trading volume levels, or Fibonacci thresholds. Understanding the Key Zone helps investors make more effective trading decisions, optimizing entry points and profit taking.