BTC/USDT (The Bulls Must Hold)

💎Technical Analysis Summary💎



BTC/USDT

-Bitcoin is still trading within the mid resistance zone
-Currently facing minor rejection at 0.618 Fib resistance
-The good news though is the price is holding above the 50DMA
-For me, as long as the 55.8k dollars holds, I'm still bullish
-But if BTC failed and closed below 55k dollars, the bears might re-enter
-We are seeing Altcoins performing well for the past few days
-As the BTC Dominance chart keeps printing a lower low at current at 48 level
-If in case the Bulls can break higher above .618
-And the BTC.D continue to drop or consolidate for a few days
-I think the Altcoins will continue to perform stronger against Bitcoin
-Because BTC will still trade in a range until the 65k ATH is broken
-Please do not just FOMO in on Altcoins that had already pumped so high
-Look for the potential next coin that still in the accumulation phase
-For a high-quality risk to reward ratio perspective
-But this is only for those who have a lot of patience
-Because this is where big money is made
-Thanks for reading my idea!



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