PolarHusk

BTC/USD (Consolidation Before New Move?)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
💎Technical Analysis Summary💎


BTC /USD

-Bitcoin is respecting these two EMAs for the 3rd time
-That is good because it is acting as a short term support
-But the bad side is this support gets weaker over time
-And a new resistance is confirmed around 48k dollars
-This can be a potential double top if support 45.5k is broken
-Take note BTC has moved up to 64% since July 20
-If BTC can hold above 48k , chances to go higher increases
-But if 45k dollar support failed, expect the next key area at 42k dollars
-For the altcoin side, the BTC Dominance keep declining
-This results in the strong performance of the altcoin overall
-But be careful because once the Dominance level bounces up
-Altcoins will be affected especially if BTC corrects lower
-Good luck everyone and stay safe





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