Bitcoin (BTC) Price Analysis. Awaiting Another Attempt to Break

Bitcoin is currently trading at roughly 3870 against the US Dollar with a total market cap of $68,025,592,482. This makes it the undisputed leader of the crypto pack, but we already knew that. More importantly, BTC dominance is still above 50% which means it is still the preferred digital token.

The O.G. coin experienced a volatile few days starting Saturday, 23 February when it climbed above the $4200 mark only to drop into $3800 area within hours of the new high. Since then, it has been ranging and without clear direction, so the next move is uncertain. Since bouncing from 3420 support it has shown bullish movement so the latest drop may have been caused by technical factors and not a market reversal. During the next 5 to 7 days we may see another attempt to break 4250 resistance but, if it doesn’t materialize, the chances of another big drop will increase.