Practicing for the first time with market capitalization analysis, next to this I look at the BTC chart, the open interest figures, and the BTC dominance. Strangely enough, it strikes me that the usdt dominance seems to be in an ascending triangle and the BTC dominance in a descending triangle. Together with yesterday's price increase that does not come with a volume candle confirming this price action and the symetrical triangle where BTC/USDT appears to be in, I estimate the possibility of a breakout downwards higher. With a price target of around 23k, however, I expect strong supprt to be at the 30-32k level depending on political conditions.
Feel free to give feedback!
Feel free to give feedback!