Bitcoin Dominance - Channel Break or Unwind
BTC.Dhttps://www.tradingview.com/chart/9xx2XrsF/
Important Level approaching on the BTC Dominance Chart. A break of the downward channel to the upside could potentially be indicative of further downside in Bitcoin and the broader crypto market , further confirmed should the 48.32% horizontal resistance getting breached.
To the downside a breach below 44% and red trendline capping below the 2nd parallel line likely spurs a massive Altcoin Rally.
A few important news events coming up Musk and Dorsey 21 July , SEC response to Warren 28 July , ETH London Hardfork 4 August. The ETH news would be the likeliest to keep Dominance within the Channel range but this news is the last rather than the first , but in the world of crypto always expect the unexpected.
cheerio
FXcrypto
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