Before anything, pay attention to the timeframe it's a 2-day timeframe, so it will take time.
Given that a large-degree bearish triangle has completed, this coin may remain bearish in the mid-term. The red zone is where the next major bearish wave could start.
A daily candle closing above the invalidation level will invalidate this analysis.
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BehDark (EN)
Before anything else, take a look at the previous analysis
We need to keep an eye on this chart. According to the previous analysis, we are bullish on this dominance.
The red zone is where USDT dominance can strongly reject.
There is a possibility of a market crash with this Bitcoin dominance chart.
Letβs see what happens
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By analyzing the TOTAL chart, it can be expected that the crypto market still has room to move downward. Of course, there will be fluctuations along the way, but at least TP 1 is likely to be hit.
For a trend reversal, the lower green zone is a highly significant area.
Letβs see what happens.
A daily candle closing above the invalidation level will invalidate this analysis.
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From the point where we placed the red arrow on the chart, MORPHO appears to be forming a complex corrective pattern similar to a diametric.
Wave E could complete within the red box, leading the price into wave F.
A daily candle closing above the invalidation level will invalidate this outlook.
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ALT appears to be in a large-degree bearish wave C. If it reaches the red zone, we can look for a sell/short position targeting lower levels.
The minimum time required for wave C to complete is marked by the vertical line on the chart. Keep in mind that this is the minimum duration. if the wave extends, it may take longer.
A daily candle closing above the invalidation level will invalidate this analysis.
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BehDark (EN)
After hitting the green zone, TP 1 was reached.
In the previous analysis, it was mentioned to break even once TP 1 is hit.
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Given the bearish CH and the formation of lower highs, BEL is expected to retrace toward lower levels.
If the price drops further, we will look for buy/long positions around the green zone.
A daily candle closing below the invalidation level will invalidate this analysis.
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BehDark (EN)
Finally, MKR pumped and reached our target. It pumped 50% from the green zone π₯
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BehDark (EN)
As you know, the market is trendless and stuck in dumps and pumps, which has made traders frustrated. At this time, we need to follow the indexes and be a bit patient.
Based on the previous analysis, it seems that Bitcoin dominance is heading downward.
Despite Bitcoinβs weak upward movement, some altcoins may have a good upward move in the coming days.
We hope this move happens and this index drops. Let's see what happens.
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BehDark (EN)
After pumping 9% and hitting the red zone, it has now dropped more than 9%! Don't forget to secure profits, as the market is highly volatile these days.
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BehDark (EN)
Bitcoin has reacted to this zone for the second time. It may move downward and reach the green zone.
If Bitcoin dominance also drops, some altcoins might not turn too red!
In this trendless and volatile market, the best approach is risk management and patience
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Altcoin dominance appears to be creating liquidity. It has not yet reached a key resistance point to accumulate more sell orders and drop further. Additionally, it has hit a very strong support level at the bottom.
For a continued drop, it needs to be fueled by an order block and gather more sell orders. Therefore, we expect it to move toward the upper order block and collect more liquidity from the liquidity pool we have identified.
Let's see what happens!
@Behdark_EN
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