Today we will see what the graphs indicate of a possible rise in the Crypto Market price and how it would impact Bitcoin and Alcoins
we'll see
This week we can close above 1 trillion dollars in the crypto market
If we apply fibonacci to the last retracement from the high to the low, 1 trillion dollars is the 0.886 fibanacci retracement.
If it closed above this week, it would break the Fibonacci resistance at 0.886, which would be another good bullish sign.
Next Fibonacci resistance 0.786 which would be at 1.26 Trillion. More than 20 billion.
How it can impact Alcoins or Bitcoin
To know how it can impact we can see the Dominance graph
In general, in a market in correction like this bitcoin in the medium term, the loss of dominance would have to be with a drop in the price of Bitcoin, but today we are considering what would happen if 20 billion entered. to the crypto market
In the graph we see that the 41.5% Dominance is key, since it has served as support on many occasions.
Today it is confirmed by the downward breaking, good news for the Alcoins that continue to recover price
If this trend continues, Alcoins would benefit more than Bitcoin.
Next Support 39.5% on Bitcoin Dominance
It could also be that the dominance of Bitcoin decreases, with a rise, for example, of 10% in the price of Bitcoin and then a setback while the price of Alcoins continues to recover values.
What do you think will the Alcoins continue to recover their price or will we fall below the trillion in the crypto markets and continue in correction for many more months?
For your vote or comment, thank you
READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
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