BTC is bouncing of a previous level of support (The RBR to the left) which was also a previous level of Resistance. This is also the current 50% zone of the longer term trend. LASS has momentum to the upside on the lower timeframes but is in the middle of the range on the H4 and Daily. And there is no momentum. Price may move up for a little while but look for it to go into the 50% zone over night or possibly through the weekend. You can see the channel is being respected too.
Poor BTC has been taking a beating lately in the press and with investors. Looks like a bit of a false hold on price...We will see how soon it breathes. The DXY was sideways all week, BTC Dominance at least has a new higher high from yesterday's candle but we need another one to prove it's a continuation. CoinGecko shows that ETH has more than half of BTC's market cap. The Flippening may happen but not soon. I would expect BTC to continue up for a little bit then head back down into this slow downtrend over the weekend. Maybe we will see a huge dip over the weekend again and my buy at 43k will get activated. Fingers crossed!
Poor BTC has been taking a beating lately in the press and with investors. Looks like a bit of a false hold on price...We will see how soon it breathes. The DXY was sideways all week, BTC Dominance at least has a new higher high from yesterday's candle but we need another one to prove it's a continuation. CoinGecko shows that ETH has more than half of BTC's market cap. The Flippening may happen but not soon. I would expect BTC to continue up for a little bit then head back down into this slow downtrend over the weekend. Maybe we will see a huge dip over the weekend again and my buy at 43k will get activated. Fingers crossed!
