#Altcoins

We went under the support wall of the up-trend, which connects higher low levels.
Under this support wall, we were unable to close and we received support from the 0.786 Fibonacci zone.
The support wall of the up-trend is not broken.
To trigger a breakdown in the future, it is necessary to go below the 0.786 Fibonacci zone and confirm it as resistance.

What to watch now?
We are still under a strong resistance zone, where the daily EMA 200 is located.
For a bullish scenario, it is crucial to go above this level and confirm it as support.
To even test the red resistance zone and EMA 200, first, we must go through the 0.618 Fibonacci resistance zone and confirm it as support. Then, a bullish movement toward the resistance zone is expected.
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It will be important to see how it plays out with Bitcoin. We will cover this in further analysis.

#Bitcoin

Bitcoin is facing significant bearish pressure.
We are forming another Bear Flag formation and have several resistance levels above us:
-Red resistance zone
-EMA 200 (4h)
-0.5 Fibonacci level
-Resistance wall of Bear Flag Formation.
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For Bitcoin to be bullish, it must break through all of these resistance levels and confirm them as support. Until then, a bearish scenario is likely, with another attempt to test the 0.618 Fibonacci zone, which is the level of the current decline's absolute bottom. This decline would occur if we were to break through the support wall of the Bear Flag formation.

#CFX

CFX is starting to show strength on the smaller timeframe chart.
We are forming a Rising Wedge pattern, with its resistance wall coinciding with a resistance zone. If we see a break of this area with confirmation in support, I will expect a bullish breakout.

The first resistance zone is marked in red on the chart, where bearish volumes are waiting.
To continue to higher levels, we must break through this area and confirm it in support.

#UNFI

UNFI is approaching an area where we have a very strong support zone and the 0.618 Fibonacci level. If we see a breakthrough of this support zone with confirmation of resistance in the future, I would expect a decline to lower levels with the possibility of a short position.

#Dominance #Altcoins #Bitcoin

Altcoins are now facing a bearish scenario and increased caution is needed.

Dominance is attempting to break through the Falling Wedge formation.
Bitcoin is on the edge of the support wall of the Bear Flag formation.
If we see the Bitcoin breakdown and the bullish breakout dominance, this would be very bearish for Altcoins.

#Dominance #Bitcoin #Altcoins

Before we take a look at Bitcoin, it is alarming to examine the dominance situation.

Significant drops in altcoins occurred due to the rapid growth of dominance, which you can observe in one of the recent candles from yesterday.
During this time, Bitcoin was declining, thus a significant drop in altcoins was expected.

In the current situation, we find ourselves within a triangle formation and are breaking through a minor resistance zone.
I am closely monitoring the developments around the resistance wall of the formation, as upon breaking through and confirming the support, a further bullish breakout in dominance is anticipated.
In this case, it is crucial to observe whether BTC will be falling/rising to deduce the expected behavior of altcoins.
For the bullish scenario of altcoins, it remains pivotal to move back below the red resistance zone.

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#Bitcoin

Bitcoin is still hovering around a crucial support level, where the Golden Pocket is also situated.
In this region, we still observe evidence of increased bullish volume and interest, as evident on the chart, as we currently struggle to maintain the support level.

The support area has so far recorded 4-hour closed candles with buying wicks, and we are not breaching this area. As long as we don't see red bearish closures here, we can expect the support to hold.
The current objective is to secure a position above the $29,250 level, enabling us to progress to higher levels.

Where can we find further pending bullish volumes?
They are located in the area of the green support level, where I would anticipate a decline if we fail to sustain the green support level.
In the event of such a potential drop, it would be necessary to monitor dominance due to the behavior of altcoins and our subsequent trades, as outlined in the previous analysis.

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