Now the global situation on the BTCUSD market looks like continued growth, and the price squeezing to a historical high - in order to break it.
At the moment, buyers again stopped at the local liquidity zone, from which a wave of decline to $50,400 began on March 20. since March 30, buyers have been unable to gain a foothold above the range of $59200-59550 . However, the buyers are not planning to give up the initiative. It is noticeable how confidently they hold the $ 56,570 mark:
The dominance of BTCUSDT has decreased and now stands at 57%. The last time such a percentage of dominance was back in August 2020:
This fact allows other coins to move independently and grow actively. Decreasing dominance in the bitcoin market can postpone the growth wave for a certain time. Therefore, we focus more on other coins.
Looking at the hourly timeframe, the continuation of the consolidation in the range of $56570-59550 is quite high. Therefore, retesting $56,570 will be within the normal range. But the breakout of this mark and the test of the range of $54200-54800 can become a very tense situation for buyers. Therefore, we are following the current consolidation and expect breaking through the critical points.
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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