BTC/USDT (53k Dollars Good Support?)

💎Technical Analysis Summary💎



BTC/USDT


-After hitting a new all-time high price above 61k dollars
-We saw a retracement of -14% immediately filling up the small CME gap
-This pullback is also accompanied by bad news regarding Defi coins
-Now, going back to the chart, the overall market structure is still valid
-The priority remains to the upside since we are in a strong bull market
-On this 12H time frame, the previous local resistance is being tested
-Currently, BTC is holding it as support temporarily with multiple confluence
-If and only if, this area will maintain for the next 1-2 days
-I think the probabilities to retest the recent high will increase
-The BTC Dominance chart saw a pullback as well, giving the altcoins space a breather
-There are many altcoins area ready to move up again and holding their daily support
-We will have another good altcoin rally provided BTC will not retrace further down
-As always, plan your next trade and have an exit strategy if your analysis is wrong
-Have a nice day everyone, keep safe!




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