Micro Analysis
Micro Resistance Zone : 10450-10318
Micro Support Zone : 10200-10076
BTC has retraced .61 FIb level from last bullish impulse and bounced back to 0.38 Fib level. Right now it's right below Micro black resistance trendline.
Bullish Side
Breaking the Black trendline + Resistance zone (described above) Will cause a mini pump to Blue Resistance trendline (Which is Macro Trendline). If BTC break Macro the trend line , it might retest 11400 Macro Resistance and quite possible this whole Descending Triangle to be a large bull flag instead is Bearish Pattern!
Bearish Side
If we break support (As described above) will cause a dump to retest the 0.61 Fib level again. If fail to hold than will dump further to retest further lower low at 9500. Keep an eye on Bullish channel on the chart . As long BTC in that Bullish channel and holding micro support. its fine to hold BTC. If break down better to convert in USD and wait for better price to buy back in.
BTC Dominance is falling which is giving a relief rally to ALTS.
Micro Resistance Zone : 10450-10318
Micro Support Zone : 10200-10076
BTC has retraced .61 FIb level from last bullish impulse and bounced back to 0.38 Fib level. Right now it's right below Micro black resistance trendline.
Bullish Side
Breaking the Black trendline + Resistance zone (described above) Will cause a mini pump to Blue Resistance trendline (Which is Macro Trendline). If BTC break Macro the trend line , it might retest 11400 Macro Resistance and quite possible this whole Descending Triangle to be a large bull flag instead is Bearish Pattern!
Bearish Side
If we break support (As described above) will cause a dump to retest the 0.61 Fib level again. If fail to hold than will dump further to retest further lower low at 9500. Keep an eye on Bullish channel on the chart . As long BTC in that Bullish channel and holding micro support. its fine to hold BTC. If break down better to convert in USD and wait for better price to buy back in.
BTC Dominance is falling which is giving a relief rally to ALTS.