Bitcoin (BTC) Analysis | Decreased Dominance | Increased Volume | Reversal Pattern | Support & Resistance | Bullish Divergence | Federal Reserve Impact | Cryptowaly

 

BTC/USDT ANALYSIS

BTC dominance decreased from 46.5% to 46.0%

BTC volume increased 33.66% in just 24 hours

Btc needs to hold 27k, otherwise we may see 24k soon. Bulls need to keep it above and continue forward, considering stop loss as well. This is not financial advice.

BTC Key Observations:

1. Reversal Pattern: Previous analysis indicates that the price has moved in our favor and is now showing a reversal pattern to the upside.

2. Change in Federal Reserve Decision: With a potential change in the Federal Reserve's decision regarding interest rate hikes, a pivot for the next meeting is likely. This suggests a change in sentiment and increased willingness among investors to take risks.

3. Mother Coin Attempting Upside: Based on 4H data, the main cryptocurrency (BTC) is about to re-attempt an upside move, creating a series of higher lows ascending towards the resistance trendline. Movements are getting narrower each day.

4. Price Support Area: The price has reached a strong order block area, indicating a potential support zone.

5. Bullish Divergence: There is a bullish divergence between the price and RSI (Relative Strength Index), indicating a potential reversal to the upside.

BTC Technical Summary:

- Trend: Sideways

- Support 1: $25,900

- Support 2: $25,500

- Resistance 1: $27,500

- Resistance 2: $28,200

- Volatility: Medium

- Volume: 17.44B

- Dominance: 46.00%

- Risk: Moderate

BTC Recommended Positions:

- Recommended Position: Long

BTC Trade Information:

- BTC 24 Hours:

  - Number of Trades: 603

  - Bought: 315 BTC

  - Sold: 288 BTC

- Long/Short Positions Ratio: 55.52% Long / 44.48% Short

BTC Timing Information:

- Recovery Time: 15 minutes

- Oversold: 30 minutes

- Correction: 1 hour

- Recovery: 2 hours

- Oversold: 3 hours

- Oversold: 4 hours

- Correction: 1 day

- Correction: 1 week

- Recovery: 1 month

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