2024-11-05 23:39:39

#Will November be Moonvember?

The chart shows the movement of Bitcoin dominance (BTC.D) in a 4-hour timeframe. We can see that the chart is in an ascending channel, where the price consistently touches the upper and lower channel boundaries, showing a stable rise in dominance. Currently, dominance is around 60.6%.
Key points for analysis:
1. Ascending trend: It can be seen that the price respects the boundaries of the channel, confirming the trend. The upper boundary of the channel is a resistance zone, and the lower one is a support zone.
2. Support and resistance: The current price is close to the upper channel boundary. This may indicate a possible downward correction to the lower boundary if the resistance level is held.
3. 50-period Moving Avarage (blue line): serves as support in this movement. As long as the price is above it, the probability of trend continuation is high.
4. Further movement: If the price moves beyond the upper boundary of the channel, this may signal further growth in BTC dominance.
#GatePosts #CryptoObservers #contentmining #打榜优质内容

BTC-1%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

3 Likes