“It has been a long, cold winter for Bitcoin and crypto. However, recent events have helped to catapult near-term price, and importantly have shifted the narrative from bearish to bullish,” contributor Miffy summarized.
Of particular interest is $21,800 should a retracement kick in, with Decentrader eyeing $30,000 as a potential upside target. “In the near-term the shorts have been squeezed, late-longs punished, and right now price is resting underneath the 200WMA. If price does need to drop down to generate enough momentum to take the next leg up to $30,000, the 1D support at $21,800 is a clear target. But for now 4H support is holding well at $23,900,” Miffy concluded.
“Importantly though, we have seen a major narrative shift for Bitcoin with a clear breakaway from traditional markets which continue to struggle due to their economic troubles and bank blow-ups. We may well see outside interest return to Bitcoin if its price rises further and its use case becomes clearer as the traditional banking system continues to implode.
Just means alt season is close 🌊 💰
In the latest knock-on effect from this week’s surge above $26,000, data from TradingView shows that Bitcoin market cap dominance is nearing 46% — its highest in nine months.
Fake news! I'm the only one to be trusted when it comes to crypto market cap.
Looks like the other cryptos are just along for the ride!
tis the season
70% of the coins will be dead by 2024
Arbitrum Airdrop is open now 🎉🎉🎉🚀🚀🚀🚀🚀👏🎉🎉👏🚀👏🚀👏
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