BTC Dominance Breakdown? Bearish Setup Ahead!
Analysis: 📉
BTC.D is trading within an ascending channel, currently at the upper resistance line (~58.4%). A potential bearish setup is forming, indicating a decline toward the lower channel support and a possible breakout downward. Targets can be set within the shaded support zone
Key Levels:
Resistance: ~58.4%
Support: ~55% (critical zone for consolidation)
Channel Breakdown Target: ~54%
Ascending Channel:
The price is trending within an ascending channel, marked by parallel resistance and support lines.
The chart suggests the price has recently touched the upper resistance of the channel.
Bearish Divergence Projection:
The shaded horizontal box towards the bottom represents a critical support area around the 55% dominance level.
then
The current level (~58.35%) is identified as a possible resistance, reinforcing the bearish outlook.
🚨Risk/Reward: Attractive if the price confirms the breakdown. Watch for volume and price action around the lower channel support for continuation or reversal signals.
Disclaimer: Not financial advice. Trade with proper risk management.
BTC.D is trading within an ascending channel, currently at the upper resistance line (~58.4%). A potential bearish setup is forming, indicating a decline toward the lower channel support and a possible breakout downward. Targets can be set within the shaded support zone
Key Levels:
Resistance: ~58.4%
Support: ~55% (critical zone for consolidation)
Channel Breakdown Target: ~54%
Ascending Channel:
The price is trending within an ascending channel, marked by parallel resistance and support lines.
The chart suggests the price has recently touched the upper resistance of the channel.
Bearish Divergence Projection:
The shaded horizontal box towards the bottom represents a critical support area around the 55% dominance level.
then
The current level (~58.35%) is identified as a possible resistance, reinforcing the bearish outlook.
🚨Risk/Reward: Attractive if the price confirms the breakdown. Watch for volume and price action around the lower channel support for continuation or reversal signals.
Disclaimer: Not financial advice. Trade with proper risk management.
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