#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.

t.me/CryptoSignalsCompany

Probable Reason for Bitcoin's Decline + Market Structure

In December, we learned that the Federal Reserve (FED) intends to slow the pace of rate cuts, which has had a negative impact on the market.
Although many FED chairs support further rate cuts, the announcement of moderation is relatively negative.
The reasoning behind this is the concern that it could jeopardize efforts to curb inflation, raising the risk of its resurgence as rates are reduced.
This creates a lack of confidence in inflation control, and while rate cuts are generally positive for the market, the opposite is true for a slowdown.

The market often reacts in advance of FOMC meetings based on anticipated outcomes.
From my perspective, this anticipation also significantly contributed to the market's decline ahead of the FOMC minutes release.
The market hit a major key resistance level at $103k without strong volumes on the 4-hour and higher time frames, which indicates a certain weakness in the market and increased caution.
When there are no substantial volumes in the market and it approaches strong resistance levels, the subsequent decline and profit-taking are more pronounced. As a result, the drop becomes even more aggressive because the market grows without strong volumes on higher time frames, adding a level of instability.
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t.me/CryptoSignalsCompany
@TradeSkipper

Circle donates $1,000,000 $USDC to President-elect Trump's inaugural fund.

Google donates $1,000,000 to President-elect Trump's inaugural fund.
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t.me/CryptoSignalsCompany
@TradeSkipper

DOJ (Department of Justice) cleared to sell $6.5 billion worth of Bitcoin from seized Silk Road assets.
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The Largest Czech Crypto group expanding abroad
t.me/CryptoSignalsCompany
@TradeSkipper

#Bitcoin

Bitcoin is currently ranging for its next market move between the 4h EMA 200 and the green support level.

The RSI on the 1h time frame shows a Bullish Divergence, while on the 4h time frame we are essentially forming a lower low bottom, as the RSI is not dropping along with the chart.

This gives Bitcoin possibility to continue toward the red resistance zone, where the 4h EMA 200 is located. However, the first attempt at a bullish move might only be expected once we break above the 4h EMA 200 and confirm it as support level.
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The Largest Czech Crypto group expanding abroad
t.me/CryptoSignalsCompany
@TradeSkipper