BTC/USDT
The current trend is upward, but we have three situations ahead of us
1- Orange channel: because it has hit the of top the channel, it is likely to correct and continue to the bottom of the channel, which can move to the range of 27k and then to 32.5k, which according to the head and shoulder pattern in RSI, this movement can be considered probable.
2- It can break the top of the channel and move towards higher targets (if it breaks the resistance of 32.5k, it can go up to 34.5k or if it cannot break the resistance of 32.5k and correct it)
3- It can descend from here and break the bottom of the channel and move towards 20k.
But in case of decline, it will definitely be supported by ma100.
And a very important point:
At the moment, the dominance of Bitcoin has reached the top of its channel, if it goes down, it is in favor of altcoins, if it goes up, it is against them.
My prediction is that Dominance will rise and Bitcoin will range so that altcoins will not suffer too much, in which case we will see an alt season similar to 2020 in the future after Dominance falls from the upper limits.
1- Orange channel: because it has hit the of top the channel, it is likely to correct and continue to the bottom of the channel, which can move to the range of 27k and then to 32.5k, which according to the head and shoulder pattern in RSI, this movement can be considered probable.
2- It can break the top of the channel and move towards higher targets (if it breaks the resistance of 32.5k, it can go up to 34.5k or if it cannot break the resistance of 32.5k and correct it)
3- It can descend from here and break the bottom of the channel and move towards 20k.
But in case of decline, it will definitely be supported by ma100.
And a very important point:
At the moment, the dominance of Bitcoin has reached the top of its channel, if it goes down, it is in favor of altcoins, if it goes up, it is against them.
My prediction is that Dominance will rise and Bitcoin will range so that altcoins will not suffer too much, in which case we will see an alt season similar to 2020 in the future after Dominance falls from the upper limits.
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