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BTC and market update -
BTC is currently trading at $9150 at the time of trading and it is preparing bearish scenarios further..
BTC has broken the support of 9250-9450 zone which is now flipped as resistance and it is now tough to cross easily..
A daily Close (if within a week) above 9450 will make it bullish. A daily Close below 9045 will make it bearish.
If today's daily closes above 9214 then it can go up.
Weekly close above 9250 will be bullish and close below 9054 will be bearish.
BTC has respected the 8910-9000 support for 3 times now.. And it is still a neutral support.
Supports -
$8910-9000 weak for now
$8620-8710 local support will be formed if price breaks $8910-9000 support
$8370-8460 neutral support
$8044-8100 (local support will be formed if breaks neautral support)
$7720-7810 strong short term support
Resistances -
$9250-9450
$9700-9810
$10k psychological
CMC (Cryptomarketcap) analysis -
CMC failed to break resistance $286 Billion and fell down to $250-252 Billion support. Currently at $254 billion..
Recent price action is showing that money is wiping out of market. But still holding the support.
Supports -
$250-252 Billion weak
$238.50-240.21 Billion local
$225-230 Billion neutral
$209.50-211.50 billion - new local if breaks neutral
$200 Billion psychological + strong
Resistances -
$259-261 billion weak
$270 Billion neutral
$286 Billion new local
$300 Billion strong + psychological
CMC will play important role yet again after more than 5
3 weeks of silence.
Alts marketcap analysis -
Alts made great move recently but could not make it to $100 Billion psychological resistance.
Alts cap is still trading at 2x from the price of March 16th. And currently at support.
If CMC breaks the support then alts cap will also break the support and top alts can suffer a bit if there will be negative coupling of alts and BTC..
Supports -
$84.40-85.50 Billion weak
$81 Billion new weak if breaks the previous
$77.2 billion neutral
$72 Billion important
Resistances -
$90 Billion weak
$95.40 billion local before psychological
$100 Billion psychological
$111.60 Billion and strong - breaking of which and closing above of this can Lead to alts Bull run.
BTC dominance analysis -
BTC dominance is having good support at 65.52% if this supports holds then less possibility for top alts to move in Satoshi value.
Meanwhile, BTC dominance has bounced from that support and it will be testing local resistance at 66.94% if closed above 66.15%. Also important resistance of 69.07% is still valid.
So on 22nd June, we advised to diversify portfolio. BTC pumped the next day and we thought we missed a long entry but now our decision of not giving much alts trades in last couple of days is looking fruitful.
Also, overall world economy is not stable and we are hearing about 'Second' wave of covid-19 to come soon. So preserving your portfolio is now more important as per our analysis and guidance.
In Next post, we will post the recommended portfolio % in BTC, USDT and Alts..
BTC is currently trading at $9150 at the time of trading and it is preparing bearish scenarios further..
BTC has broken the support of 9250-9450 zone which is now flipped as resistance and it is now tough to cross easily..
A daily Close (if within a week) above 9450 will make it bullish. A daily Close below 9045 will make it bearish.
If today's daily closes above 9214 then it can go up.
Weekly close above 9250 will be bullish and close below 9054 will be bearish.
BTC has respected the 8910-9000 support for 3 times now.. And it is still a neutral support.
Supports -
$8910-9000 weak for now
$8620-8710 local support will be formed if price breaks $8910-9000 support
$8370-8460 neutral support
$8044-8100 (local support will be formed if breaks neautral support)
$7720-7810 strong short term support
Resistances -
$9250-9450
$9700-9810
$10k psychological
CMC (Cryptomarketcap) analysis -
CMC failed to break resistance $286 Billion and fell down to $250-252 Billion support. Currently at $254 billion..
Recent price action is showing that money is wiping out of market. But still holding the support.
Supports -
$250-252 Billion weak
$238.50-240.21 Billion local
$225-230 Billion neutral
$209.50-211.50 billion - new local if breaks neutral
$200 Billion psychological + strong
Resistances -
$259-261 billion weak
$270 Billion neutral
$286 Billion new local
$300 Billion strong + psychological
CMC will play important role yet again after more than 5
3 weeks of silence.
Alts marketcap analysis -
Alts made great move recently but could not make it to $100 Billion psychological resistance.
Alts cap is still trading at 2x from the price of March 16th. And currently at support.
If CMC breaks the support then alts cap will also break the support and top alts can suffer a bit if there will be negative coupling of alts and BTC..
Supports -
$84.40-85.50 Billion weak
$81 Billion new weak if breaks the previous
$77.2 billion neutral
$72 Billion important
Resistances -
$90 Billion weak
$95.40 billion local before psychological
$100 Billion psychological
$111.60 Billion and strong - breaking of which and closing above of this can Lead to alts Bull run.
BTC dominance analysis -
BTC dominance is having good support at 65.52% if this supports holds then less possibility for top alts to move in Satoshi value.
Meanwhile, BTC dominance has bounced from that support and it will be testing local resistance at 66.94% if closed above 66.15%. Also important resistance of 69.07% is still valid.
So on 22nd June, we advised to diversify portfolio. BTC pumped the next day and we thought we missed a long entry but now our decision of not giving much alts trades in last couple of days is looking fruitful.
Also, overall world economy is not stable and we are hearing about 'Second' wave of covid-19 to come soon. So preserving your portfolio is now more important as per our analysis and guidance.
In Next post, we will post the recommended portfolio % in BTC, USDT and Alts..